NortonLifeLock to buy UK cyber firm Avast in $8bn deal
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Investegate |Avast PLC Announcements | Avast PLC: Correction: Form 8 (OPD)
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Investegate |Avast PLC Announcements | Avast PLC: Form 8 (OPD) Avast PLC
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A takeover by Nasdaq-listed Norton would also strip London of another heavyweight technology company after the sale of Arm to Japan s Softbank in 2016 and Imagination Technologies to China s Canyon Bridge last year.
Avast s shares rocketed by 18.1 per cent, or 91.4p, to 595.6p yesterday – taking its stock market value to £6.1billion.
Berenberg analysts said Avast could be worth as much as £8.4billion.
Co-founders Eduard Kucera and Pavel Baudis own a 37.5 per cent stake – which rose in value from £1.95billion on Wednesday to £2.3billion last night.
Shares in Arizona-based Norton, in contrast, fell by around 5 per cent yesterday.
Avast is a Czech company based in Prague, but it snubbed a Nasdaq listing in favour of London in 2018.