Friday July 08, 2016

Avast Buying AVG for $1.3B To Add Security Software

Raise your hand if you knew that Avast had access to this kind of money. Also, who knew that AVG was worth $1.3 billion? I need to start paying closer attention to this stuff. wink

Avast, which is backed by private-equity firm CVC Capital Partners, will begin a tender offer for Amsterdam-based AVG at $25 a share in cash, the companies said in a statement Thursday. That’s 33 percent above AVG’s closing price Wednesday on the New York Stock Exchange. The deal will give Prague-based Avast more opportunities in internet security-related business, providing it with more scale and an increased geographical reach in both its core business and newer areas such as Internet of Things, according to the statement.