Avast Software buys AVG Technologies for $1.3bn

July 7, 2016

Security Firm Avast Software has announced plans to acquire AVG for $1.3bn, or $25 a share, in a deal designed to allow the combined companies to better handle modern threats and tackle new risks associated with the Internet of Things (IoT).

Avast said that it will benefit from the extra scale provided by the acquisition. The new entity will have a network of 400 million endpoints, each of which is set up to detect and deal with malware, the firm said.

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