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.