Two of the biggest cybersecurity firms, NortonLifeLock Inc. and its rival Avast Plc have been engaged in advanced discussions on a potential merger. Norton has until 11 August to make a formal bid according to the U.K. takeover code. The merger would establish a global leader in consumer security software.
Norton and Avast released statements confirming the potential merger plan. But Avast said that there was no assurance of agreement on a deal.
Avast Delivers Stellar Performance
Avast, which is based in Prague but went public in London in 2018, claims that there are 435 million active users in 2020. The company deals with consumer software such as desktop security and mobile device protection. The consumer product itself generates 95% of its billings last year. The company has a…