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Avast Acquires AVG For $1.3 Billion

1 minute read
If you ever used a Windows PC, then you MUST have installed AVG at one point in your Windows life.
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However, the company which has helped millions fight against viruses and malware has been reportedly acquired by Avast, their direct competition for $1.3 billion. Avast is also expected to pay $25 cash for each of AVG’s outstanding ordinary shares.  According to their CEO, Vincent Steckler:
“We are in a rapidly changing industry, and this acquisition gives us the breadth and technological depth to be the security provider of choice for our current and future customers, combining the strengths of two great tech companies, both founded in the Czech Republic and with a common culture and mission, will put us in a great position to take advantage of the new opportunities ahead, such as security for the enormous growth in IoT.”
The reason for the acquisition is to gain scale, technological depth, and geographical breadth so that it can take advantage of emerging growth opportunities in internet security. With both companies combined,  Avast will now have access to over 400 million devices that have either Avast or AVG installed. A huge deal!
Like I said, quite unexpected, but on a brighter note, two heads are better than one, and with these two big forces combined under the Avast umbrella, malware and viruses are in serious trouble.