NortonLifeLock (NASDAQ: NLOK), a global leader in Cyber Safety, today announced it has completed its previously announced acquisition of Avast.
“We believe that everyone deserves the freedom to live their digital lives to the fullest,” said Vincent Pilette, CEO of NortonLifeLock and the Combined Company. “Half a billion users trust us to protect and empower their digital lives, and now that NortonLifeLock and Avast have come together, we plan to redefine and reimagine Cyber Safety for consumers and small businesses around the world.”
On a provisional basis, shareholders holding 36.505% of the Avast shares elected the Majority Stock Option comprising 0.1937 new NortonLifeLock shares and $2.37 in cash per Avast share, with the remaining 63.495% due to receive the Majority Cash Option comprising 0.0302 new NortonLifeLock shares and $7.61 in cash per Avast share. On a provisional basis and prior to the calculation of the amount of GBP consideration due pursuant to the currency conversion facility, the aggregate consideration due pursuant to the Merger comprises 94,201,223 new NortonLifeLock Shares and cash consideration of approximately $5,970,761,620.
“WE BELIEVE THAT EVERYONE DESERVES THE FREEDOM TO LIVE THEIR DIGITAL LIVES TO THE FULLEST,”
With the completion of the transaction, trading in Avast shares was suspended at 7:30 a.m. BST on September 12, 2022, and the Avast shares will be delisted from the London Stock Exchange effective as of September 13, 2022, at 8:00 a.m. BST.
The Combined Company will operate as NortonLifeLock Inc. and discuss its shared financials and metrics during the fiscal year 2023 second quarter earnings release call. As it starts merging its operations, the Combined Company will soon announce a new name that reflects the forward-thinking vision and scale of its comprehensive Cyber Safety platform and trust-based solutions for consumers around the world. It will also begin trading under a new stock ticker under the new company name on NASDAQ. Until that time, the Combined Company will operate as NortonLifeLock Inc. and continue trading on NASDAQ under its current “NLOK” ticker symbol.
Advisors
Evercore is serving as financial advisor to NortonLifeLock and Kirkland & Ellis LLP and Macfarlanes LLP are serving as its legal advisors. UBS and J.P. Morgan Cazenove are serving as financial advisors to Avast and White & Case LLP is serving as its legal advisor.
About NortonLifeLock Inc.
NortonLifeLock Inc. (NASDAQ: NLOK) is a global leader in consumer Cyber Safety, protecting and empowering people to live their digital lives safely. We are the consumer’s trusted ally in an increasingly complex and connected world. Learn more about how we’re transforming Cyber Safety at www.nortonlifelock.com.
About Avast
Avast is a global leader in digital security and privacy products. Avast offers products under the Avast and AVG brands that help protect people from threats on the internet and the evolving IoT threat landscape. Its threat detection network is among the most advanced in the world, using machine learning and artificial intelligence technologies to detect and stop threats in real time. Avast digital security products for Mobile, PC or Mac are top-ranked and certified by VB100, AV-Comparatives, AV-Test, SE Labs and others. Avast is a member of Coalition Against Stalkerware, No More Ransom and Internet Watch Foundation.
