NortonLifeLock and Avast locked in merger talks - reports

A merger would expand the US cyber safety specialist’s focus on consumer software

US-based NortonLifeLock is in advanced talks with London-listed cybersecurity firm Avast about a merger.

A deal would reportedly create a leader in consumer security software.

Avast said late Wednesday June 14 that the two were in advanced discussions about a cash-and-stock deal, according to The Wall Street Journal.

It added a deal could be completed this month with a market value of around $7.2bn.

WSJ reports that Avast is giving NortonLifeLock until August 11 to make a firm offer.

Founded and based in Prague, Czech Republic, Avast provides both free and premium security software for consumers such as desktop security and server and mobile-device protection.

It claims to have a headcount of more than 1,700 and a 2020 turnover of around $893m.

A deal would result in a market valuation of $16bn for the Arizona-HQ NortonLifeLock, formerly Symantec Corp. before it closed a $10.7bn sale of its enterprise-security business to Broadcom in 2019.