NortonLifeLock to Acquire Avira
The all-cash transaction to acquire the company, whose roots go back to 1986, will see roughly $360m change hands.
Avira is headquartered on the shores of Lake Constance, Germany. The company provides a consumer-focused portfolio of cybersecurity and privacy solutions for Windows and Mac computers, Android and iOS smartphones, home networks, and smart devices (IoT).
The company, which employs roughly 500 people, describes itself as a pioneer of the freemium software business model.
“I am delighted to welcome Avira to the Norton family,” said Vincent Pilette, CEO, NortonLifeLock. “We strive to bring Cyber Safety to everyone, and acquiring Avira adds a growing business to our portfolio, accelerates our international growth and expands our go-to-market model with a leading freemium solution."
Pilette added that the two companies are a great match culturally and "share a relentless focus on delivering innovative products to customers" as well as a customer-first attitude.
Once the planned acquisition closes, Avira CEO Travis Witteveen and CTO Matthias Ollig will join the NortonLifeLock leadership team.
“NortonLifeLock and Avira are fiercely dedicated to helping protect consumers’ digital lives,” said Witteveen. “We are thrilled to become part of NortonLifeLock—a company that is synonymous with trust and leadership in Cyber Safety. By leveraging the scale of NortonLifeLock, we can reach and protect more consumers around the globe.”
Among the strategic and financial benefits the companies expect to emerge from the deal are an acceleration of international growth in Europe and key emerging markets and the addition of the freemium business model and over 30 million active devices to the Norton family.
Gagan Singh, chief product officer, NortonLifeLock, said: “We were pioneers in delivering comprehensive Cyber Safety to consumers via our Norton 360 platform, and now with the addition of Avira’s product capabilities and solutions, we can better serve a broader set of consumers with our combined portfolio and a freemium business model."
The acquisition is expected to close in the Fiscal 2021 fourth quarter, subject to regulatory and customary closing conditions, and is not expected to be material to Fiscal 2021 Q4 results.