By Dhirendra Tripathi
Investing.com – NortonLifeLock (NASDAQ:NLOK) stock fell 4% and Avast (OTC:AVASF) rose 18% as the two discuss a possible merger.
“There can be no certainty as to whether any transaction will take place or the terms on which any possible merger may be agreed. A further announcement will be made if and when appropriate,” Avast said in a note.
The Wall Street Journal was the first to report about the deal talks.
Avast, citing the U.K. takeover code, said NortonLifeLock has until August 11 to make a firm offer.
NortonLifeLock has a market cap of $15.61 billion and Avast $8.33 billion.
Prague-headquartered Avast boasts of 435 million users and as many as 49% of its employees working on R&D. Its adjusted revenue in 2020 was $892.9 million.
Avast makes both free and premium software, and the former offering is quite popular with users.
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