Antivirus software firm AVG acquired by Avast for $1.3 billion

Antivirus software company AVG Technologies has been acquired by rival Avast Software for $1.3 billion.

Both companies were founded in the Czech Republic and expanded globally with AVG going public in 2012. With this deal Avast will purchase AVG, now based in The Netherlands, at $25 per share. Avast has received financing of $1.6 billion from Credit Suisse Securities, Jefferies and UBS Investment Bank to complete the deal.

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