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Czech anti-virus firm Avast buys Dutch rival AVG

by

ROME Jul 08, 2016 - 12:00 am GMT+3
by Jul 08, 2016 12:00 am

Czech anti-virus software maker Avast Software will take over its Dutch rival AVG Technologies for 31.7 billion Czech koruna (1.17 billion euros, $1.3 billion), the two companies said Thursday.

"Combining Avast's and AVG's users, the organisation will have a network of more than 400 million endpoints, of which 160 million are mobile," Avast and AVG said in a joint statement. "The transaction is structured as an all-cash tender offer for all outstanding ordinary shares of AVG at a price of $25.00 per share in cash," they added.

Approved by both companies' boards, the transaction is due to close in September or October. The Prague-based Avast and AVG, which is based in Amsterdam and listed in New York, were both founded in the Czech Republic at the turn of the 1980s and 1990s.

About the author
Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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