Accelerates International Growth and Expands Consumer Reach through Freemium Model
NortonLifeLock, a global leader in consumer Cyber Safety, announced it has agreed to acquire Avira in an all-cash transaction for approximately $360 million from Investcorp Technology Partners. Avira provides a consumer-focused portfolio of cybersecurity and privacy solutions to a strong base in Europe and key emerging markets
“I am delighted to welcome Avira to the Norton family,” said Vincent Pilette, CEO, NortonLifeLock. “We strive to bring Cyber Safety to everyone, and acquiring Avira adds a growing business to our portfolio, accelerates our international growth and expands our go-to-market model with a leading freemium solution. Culturally, we are a great match. We share a relentless focus on delivering innovative products to customers and we always think customer-first. We cannot wait to get started with Avira.”
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“NortonLifeLock and Avira are fiercely dedicated to helping protect consumers’ digital lives,” said Travis Witteveen, CEO, Avira. “We are thrilled to become part of NortonLifeLock – a company that is synonymous with trust and leadership in Cyber Safety. By leveraging the scale of NortonLifeLock, we can reach and protect more consumers around the globe.”
“We were pioneers in delivering comprehensive Cyber Safety to consumers via our Norton 360 platform, and now with the addition of Avira’s product capabilities and solutions, we can better serve a broader set of consumers with our combined portfolio and a freemium business model,” said Gagan Singh, chief product officer, NortonLifeLock.
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Expected Strategic and Financial Benefits
- Advances NortonLifeLock’s aspiration to bring Cyber Safety to everyone.
- Accelerates international growth in Europe and key emerging markets.
- Brings freemium business model and 30M+ active devices to the Norton family.
- Adds approximately 3 points of growth to our revenue with more than 1.5M paying customers
- Financially accretive in the first year, to achieve approximately 50% operating margin post-synergies.
Upon deal close, Avira CEO Travis Witteveen and CTO Matthias Ollig will join the NortonLifeLock leadership team. Subject to regulatory and customary closing conditions, the acquisition is expected to close in the Fiscal 2021 fourth quarter and is not expected to be material to Fiscal 2021 Q4 results.
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