In what could be the highest acquisition bid for this year, in the field of Cybersecurity, US firm Norton has acquired Czech republic-based Cybersecurity firm Avast for $8 billion. Trade analysts state that the deal was propelled as the demand for the security software has surged because of the COVID-19 pandemic induced online activity.
As per the sources reporting to cybersecurity insiders, the deal that took place was for 6.7 Billion Euros and will adhere to the vision of Norton to protect and empower online users against threats lurking in the cyber landscape.
Vincent Pilette, the CEO of Norton, confirmed the news and added that his team is elated to welcome a new team of experts on board.
Ondrej Vlcek, the Chief Executive Office of Avast, said that his company’s technology integration with Norton will help the firm build enhanced solutions and services, with improved capabilities.
From September this year, Vlcek is said to become the president of NortonLifeLock and will then on become a member of the NortonLifeLock board.
As Work from Home(WFH) trend has kicked in, businesses operating in different spheres are facing multiple forms of threats, such as ransomware attacks, where hackers demand money for decrypting the data on their database.
So, in such a situation, companies offering cybersecurity are trying their best in serving the online users with the latest form of sophisticated security. This includes offering anti-malware solutions that not only help in weeding out malware from any database but also protect it from all forms of threats.
Norton is one such firm that has been offering computer security solutions to online users since 1991. And with Avast technology on board, the security company that also offers phishing protection will provide a holistic cyber protection to online consumers across the globe.
