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Avast Buys More Security with AVG

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Antivirus software vendor Avast acquires more security through Czech Republic-based security developer AVG in a deal worth around $1.3 billion.

AVG AvastThe deal creates an entity with a network of over 400 million endpoints (160 million of which are mobile), all acting as "de facto sensors" to further broaden the Avast malware intel library.

As the company puts it, the reason behind the purchase is to "gain scale, technological depth and geographical depth." As such, Avast plans to pursue business beyond PC antivirus software to more advanced offerings, such as security for Internet of Things (IoT) devices.

"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," Avast says. "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."

Avast does not detail how it will integrate the AVG team and software as yet, but it confirms the AVG brand will remain in use due to associated strengths in different markets. The acquisition should close sometime between September and October 2016 following obligatory regulatory review.

Go Avast Announces Agreement to Acquire AVG