top of page

UK competition watchdog concerned over £6bn buyout of Avast by cybersecurity rival NortonLifeLock.

The UK’s competition watchdog has raised concerns over the £6bn buyout of Avast by fellow cybersecurity firm NortonLifeLock.

The Competition and Markets Authority (CMA) announced this morning that the deal, which was announced in August, between the two close competitors could harm competition in the market, as there are few other significant rivals.

CMA executive director David Stewart said: “We are living more of our lives online and it is vital that people have access to competitive cyber safety software when seeking to protect themselves and their families".

NortonLifeLock’s proposed purchase of Avast could lead to a reduction in competition in the UK and ultimately a worse deal for consumers when looking for cyber safety software.”

Increasing fears that UK consumers may see pricier, less cost-effective deals when looking for cybersecurity software, the CMA has given both firms five days to submit proposals addressing the concerns.

“Unless the companies can offer a clear-cut solution to address our concerns, we intend to carry out an in-depth phase 2 investigation,” warned the new CMA boss. The CMA launched an initial probe into the cash-and-stock deal back in January.

8 views0 comments

Related Posts

See All
bottom of page