NortonLifeLock to acquire cybersecurity firm Avira for $360mn

London:  Consumer cybersecurity brand NortonLifeLock has said it will acquire German cybersecurity firm Avira in an all-cash transaction for approximately $360 million.
The announcement on Monday comes eight months after Investcorp Technology Partners acquired Avira for $180 million.
Avira provides a consumer-focused portfolio of cybersecurity and privacy solutions to a strong base in Europe and key emerging markets.
“We strive to bring Cyber Safety to everyone, and acquiring Avira adds a growing business to our portfolio, accelerates our international growth and expands our go-to-market model with a leading freemium solution,” Vincent Pilette, CEO, NortonLifeLock, said in a statement.
“Culturally, we are a great match. We share a relentless focus on delivering innovative products to customers and we always think customer-first. We cannot wait to get started with Avira.” The acquisition is expected to accelerate NortonLifeLock’s international growth in Europe and key emerging markets.