US company taking over Czech antivirus firm Avast in massive deal

The US software company NortonLifeLock says it has reached agreement with the Czech multinational antivirus company Avast on a takeover, the Financial Times reported. The American firm is set to pay up to USD 8.6 billion for Avast, which was set up in 1988.

Avast’s products are used by over 435 million people around the world, mainly free of charge. Its founders hold a stake of around 35 percent in the company.