The combined company will be dual-headquartered in Prague and Tempe, and will be listed on NASDAQ NortonLifeLock is currently listed on NASDAQ under NLOK. NortonLifeLock CEO Vincent Pilette and CFO Natalie Derse will remain in their positions with the new company. In addition, Avast co-founder and board member Pavel Baudiš is expected to join the NortonLifeLock board as an independent director. When the merger closes, Avast CEO Ondrej Vlcek will join NortonLifeLock as president and join the company's board. The name of this combined company is to be determined, and the merger is expected to complete in mid-2022.Īccording to the recommended merger filing available with the press release, the boards of the two companies "believe the merger has compelling strategic logic and represents an attractive opportunity to create a new, industry leading consumer cyber safety business, leveraging the established brands, technical expertise and innovation of both groups to deliver substantial benefits to consumers, shareholders and other stakeholders." Moreover, Avast shareholders will own between 14% and 26% of the newly combined company. Depending on shareholder elections, the announcement says, the deal will be valued between $8.1 and $8.6 billion. According to the announcement, the combined company will serve 500 million users, including 40 million direct customers.Ĭurrent Avast shareholders will be given two compensation options: a majority cash option and a majority stock option.
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