Avast has finally made a deal to buy antivirus app AVG. Avast set to buy AVG antivirus app at $1.3 billion. They are going for cash on hand before anything else. Every shareholder of AVG will be offered $25.00 per share in cash by Avast.
According to the source, Avast made it out that users has grown to 400 million which 160 million are on mobile which will help them increase their geographical reach. With this it'll help them take full stand as an Internet Security provider. Chief Executive Officer of Avast Software -Vince Steckler-, has this to say:
“We are in a rapidly changing industry, and this acquisition gives us the breadth and technological depth to be the security provider of choice for our current and future customers,”
“Combining the strengths of two great tech companies, both founded in the Czech Republic and with a common culture and mission, will put us in a great position to take advantage of the new opportunities ahead, such as security for the enormous growth in IoT.”
Other plans and transaction should have taken place on or before September 15, and October 15 this year 2016.
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