Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

UK clears NortonLifeLock's acquisition of rival Avast

Published 02/09/2022, 07:39
Updated 02/09/2022, 15:28
© Reuters. 3D printed models of people working on computers and padlock are seen in front of a displayed Avast logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Britain's competition regulator finally cleared NortonLifeLock's acquisition of British rival Avast on Friday, saying the security software market would remain competitive after the $8.6 billion merger of two of the biggest players.

The Competition and Markets Authority (CMA) confirmed its provisional decision to allow the deal last month, removing the last major hurdle after it had received the green light in the United States, Spain and Germany.

The CMA said the merged company would face significant competition from McAfee and other smaller players, while software titan Microsoft Corp (NASDAQ:MSFT)'s security software was now as good as that offered by specialist providers.

NortonLifeLock said after the provisional decision that it expected to close the deal this month.

Latest comments

Hello my friends
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.