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Avast Software to acquire AVG for USD1.3 Billion

Czech Republic: Avast Software to acquire its one of the biggest rival AVG Technologies, a Netherlands based antivirus company for USD1.3 billion in cash. The company would be paying USD25 per AVG share. Avast Software would be utilizing cash on hand and debt financing for the payment.

AVG Technologies, is a security software company with over 200 million paid and free users. The company provides security solutions to individuals and businesses.

Vincent Steckler, CEO Avast Software said that after the acquisition the company would have total access to more than 400 million devices including 250 million PC and Mac devices and 160 million mobile devices.

TechSci Research analyses that the acquisition would help Avast Software to increase its customer base. As well, the company would be able to gather more data from the connected devices and improve its threat detection efficiency to offer better products and services to its customers.

According to the recent report published by TechSci Research, Global Cyber Security Market By Security Type (Network Security, Content Security, etc.), By Solutions (Identity & Access Management, Risk & Compliance Management, etc.), By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021” global market for cyber security is projected to surpass USD 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years. Banking, Financial Services and Insurance (BFSI); IT & Telecom; defense; energy & power; retail; and healthcare have emerged as the key application areas where cyber security solutions are being increasingly adopted.

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