NortonLifeLock Completes Merger with Avast

Gandalf_The_Grey

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Apr 24, 2016
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TEMPE, Ariz. and PRAGUE, Sept. 12, 2022 /PRNewswire/ -- NortonLifeLock (NASDAQ: NLOK), a global leader in Cyber Safety, today announced it has completed its previously announced acquisition of Avast.

"We believe that everyone deserves the freedom to live their digital lives to the fullest," said Vincent Pilette, CEO of NortonLifeLock and the Combined Company. "Half a billion users trust us to protect and empower their digital lives, and now that NortonLifeLock and Avast have come together, we plan to redefine and reimagine Cyber Safety for consumers and small businesses around the world."

On a provisional basis, shareholders holding 36.505% of the Avast shares elected the Majority Stock Option comprising 0.1937 new NortonLifeLock shares and $2.37 in cash per Avast share, with the remaining 63.495% due to receive the Majority Cash Option comprising 0.0302 new NortonLifeLock shares and $7.61 in cash per Avast share. On a provisional basis and prior to the calculation of the amount of GBP consideration due pursuant to the currency conversion facility, the aggregate consideration due pursuant to the Merger comprises 94,201,223 new NortonLifeLock Shares and cash consideration of approximately $5,970,761,620.

With the completion of the transaction, trading in Avast shares was suspended at 7:30 a.m. BST on September 12, 2022, and the Avast shares will be delisted from the London Stock Exchange effective as of September 13, 2022, at 8:00 a.m. BST.

The Combined Company will operate as NortonLifeLock Inc. and discuss its shared financials and metrics during the fiscal year 2023 second quarter earnings release call. As it starts merging its operations, the Combined Company will soon announce a new name that reflects the forward-thinking vision and scale of its comprehensive Cyber Safety platform and trust-based solutions for consumers around the world. It will also begin trading under a new stock ticker under the new company name on NASDAQ. Until that time, the Combined Company will operate as NortonLifeLock Inc. and continue trading on NASDAQ under its current "NLOK" ticker symbol.
 

Kiss

Level 4
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Oct 6, 2021
154
Now is it time for Norton to close Avast and AVG like it did bullguard?
 

ttto

Level 9
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Sep 22, 2016
402
Hope Norton adds Avast/AVG's Anti-Theft features in their android app, as in my opinion is the only thing I would change in my Norton product. I don't know why, at first norton had a good anti-theft service, and they decided to stop using it, and remove that feature.
 

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