Both companies were founded in the Czech Republic and have expanded internationally to cover a wide range of security applications. The merger will offer them more scale to build on the international growth and new opportunities such as the IoT. Together the two companies' products secure over 400 million endpoints, including 160 million mobile devices.
Avast has secured USD 1.685 billion in debt financing to pay for the takeover of its publicly listed rival AVG. The offer represents a premium of 33 percent on AVG's share price the day before the agreed deal was announced and 32 percent over the average price in the past six months. The takeover still requires regulatory and shareholder approval and is conditional on Avast acquiring 95 percent of AVG shares.
