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Avast to buy AVG shares

 Avast Software and AVG Technologies, two Anti virus companies have  announced that they have entered into a purchase agreement in which Avast will buy shares in AVG for $25.00 per share in cash, for a total  $1.3B

Avast is making this purchase to gain scale, technological depth and geographical breadth,  so that the new organisation can be in a position to take advantage of emerging growth opportunities in Internet Security as well as organisational efficiencies.

Combining Avast’s and AVG’s users, the organisation will have a network of more than 400 million endpoints, of which 160 million are mobile, that act as de facto sensors, providing information about malware to help detect and neutralise new threats as soon as they appear. This increase in scale will enable Avast to create more technically advanced personal security and privacy products.

This transaction has been unanimously approved by the Management Board and Supervisory Board of Avast. The Management Board and Supervisory Board of AVG approved and support the transaction and recommend the offer for acceptance to the AVG shareholders.