![]() "Regulators from across the globe, including the U.S. In a statement, NortonLifeLock calls the news "surprising" and says that the deal is expected to benefit consumers around the world, including those in the U.K. The CMA then has a further five working days to consider whether to accept any offer instead of referring the case for an in-depth Phase 2 investigation," the U.K.'s regulatory body says. ![]() "NortonLifeLock and Avast now have five working days to submit proposals to address the CMA’s competition concerns. The two companies must offer a "clear-cut solution" to address CMA's concerns or risk being thoroughly investigated by the agency. " NortonLifeLock's proposed purchase of Avast could lead to a reduction in competition in the U.K," he says, adding that this would ultimately offer consumers looking for cyber safety software a bad deal. Competition ConcernsĪt a time when a significant number of people live and work online, it is vital to have competitive cyber safety software, says David Stewart, executive director at CMA. See Also: Webinar | The Evolution of Network Architecture: What You Don't Know Can Hurt YouĪntivirus and identity protection firm NortonLifeLock entered into an agreement in August 2021 to acquire its rival, Avast, for between $8.1 billion and $8.6 billion (see: NortonLifeLock to Buy Avast for Over $8 Billion).Īrizona-based NortonLifeLock is primarily known for its Norton antivirus software and its LifeLock identity theft protection software, while Prague-based Avast has more than 435 million customers using its antivirus and VPN software. regulatory body, expressed concerns that the deal between the companies may disrupt competition in the U.K. ![]() On Thursday, the Competition and Markets Authority, a U.K. NortonLifeLock described the regulatory roadblock as "surprising."Ĭybersecurity company NortonLifeLock's $8.6 billion plan to purchase rival Avast has hit a snag.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |