Avast and NortonLifeLock agreed to a takeover last August, and the UK regulator was the latest to not yet fully approve the merger. The CMA launched a deeper investigation into the deal in March this year amid concerns it could harm competition and put British customers at a disadvantage when looking for security software, Reuters reported.
According to a preliminary draft of the merger schedule, Avast should now cease trading on September 9 and its shares should be delisted on September 12. According to the proposal, NortonLifeLock then expects to issue new shares and then settle the entire merger.
The UK authority also said the combined company would face significant competition from McAfee and other smaller players. Also, Microsoft’s security software is now as good as the software offered by specialized providers.
Britain is investigating whether the acquisition of Avast will harm consumers
Anti-virus program advanced set
Avast is a Czech multinational antivirus company that has been operating on the market since 1988. In the late 1980s, two Czech computer enthusiasts, Eduard Kučera and Pavel Baudiš, created a program they called anti-virus advanced set (AVAST). It became very popular during its existence.
One of the reasons is certainly the fact that the company offers it for home and non-commercial use for free. The program is equipped with a great user interface that is very intuitive. You can easily search for viruses and spyware on the hard disk directly from the program window, but there is also the option of scheduling an automatic disk scan or a resident shield that monitors the security of the operating system in the background during normal work.
The main advantage of the antivirus is primarily the low operating requirements, which, unlike some competing solutions, do not unnecessarily reduce the performance of the entire computer. This will be especially appreciated by owners of older PCs that are not as powerful.
Avast products are used by over 435 million users worldwide, largely free of charge. The firm says it employs more than 1,700 people and that it blocks 1.5 billion cyberattacks every month.
NortonLifeLock is based in Tempe, Arizona. The company previously operated on the market under the name Symantec. However, in 2019, it sold the section of the security software manufacturer Symantec aimed at businesses and authorities to the American chip manufacturer Broadcom. Its most prominent business items are now Norton antivirus and LifeLock identity theft protection products.