EconomyMarkets

Norton Falls 4%, Avast Gains 18% As Two Discuss Merger By Investing.com

© Reuters.

By Dhirendra Tripathi

Investing.com – NortonLifeLock (NASDAQ:) stock fell 4% and Avast (OTC:) rose 18% as the two discuss a possible merger.

“There can be no certainty as to whether any transaction will take place or the terms on which any possible merger may be agreed. A further announcement will be made if and when appropriate,” Avast said in a note.

The Wall Street Journal was the first to report about the deal talks.

Avast, citing the U.K. takeover code, said NortonLifeLock has until August 11 to make a firm offer.

NortonLifeLock has a market cap of $15.61 billion and Avast $8.33 billion.  

Prague-headquartered Avast boasts of 435 million users and as many as 49% of its employees working on R&D. Its adjusted revenue in 2020 was $892.9 million.

Avast makes both free and premium software, and the former offering is quite popular with users.

Companies making anti-virus software and cybersecurity solutions are in favor as companies and individuals shift to a blended work-life schedule that incorporates both office and home environments.

With more hacker groups getting active and billions of dollars at stake, governments and corporations are willing to spend more on cybersecurity solutions.  

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button