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Avast Anti-virus Buys AVG for $1.3B
Avast anti-virus from Czech Republic will handle less competition through buying its rival, AVG Technologies for 31.7 billion Czech koruna (1.17 billion euros), the two companies said on Thursday, July 7.
“Combining Avast’s and AVG’s users, the organization will have a network of more than 400 million endpoints, of which 160 million are mobile,” Avast and AVG said in a joint statement.
“The transaction is structured as an all-cash tender offer for all outstanding ordinary shares of AVG at a price of $25.00 per share in cash,” they added.
Approved by both companies’ boards, the transaction is due to close in September or October.
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