Investcorp sells Avira for $360m to NortonLifeLock

Consumer-software company NortonLifeLock said it has agreed to buy the cybersecurity and privacy company Avira for about $360m in cash from Investcorp Technology Partners, giving NortonLifeLock more market access in Europe and emerging markets.

Avira chief executive Travis Witteveen and Matthias Ollig, the technology chief, will join NortonLifeLock’s leadership after the deal’s closing, expected in the fiscal 2021 fourth quarter, NortonLifeLock said Monday, 7 December.

The acquisition would add about three points of growth to NortonLifeLock’s revenue, the company said.

Avira is a Germany-headquartered, global cybersecurity software solutions firm serving the Consumer and OEM (Original Equipment Manufacturer) end markets.

Founded in 1986 by Tjark Auerbach, Avira provides customers with a suite of software security solutions, including anti-malware, threat intelligence and IoT solutions to protect users’ online identity, finances, and private data.

Source: Private Equity News

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