March 17, 2022
Britain’s Competition and Markets Authority (CMA) has stated that it will investigate the proposed cyber merger between NortonLifeLock and Avast.
According to the CMA, the deal could significantly impact competition. Also, it could result in British customers getting a worse deal when looking for security software.
NortonLifeLock in August table the request to acquire Avast for $8.6 billion in a cash-and-stock cyber deal.
“We are living more of our lives online and it is vital that people have access to competitive cyber safety software when seeking to protect themselves and their families,” CMA Executive Director David Stewart said.
Reacting to CMA’s decision, NortonLifeLock explains that the probe will prolong the competition of the deal. The deal was initially expected to close on April 4 will now close in mid-to-late 2022.
The deal will help combine NortonLifeLock’s strength in identity theft protection and Avast’s privacy to deliver better performance to customers.
For more information, read the original story in Reuters.
