The competition regulator has provisionally cleared cybersecurity firm NortonLifeLock’s $8.6bn (£7.1bn) deal to snap up Avast.
Following an in-depth inquiry into the deal, the Competition and Markets Authority (CMA) has now provisionally concluded that the deal does not raise competition concerns in the UK.
The investigation found that the supply of cyber safety software to consumers is rapidly evolving, and providers of both paid-for and free services are continually developing and improving their products over time to meet different and changing customer needs.
It also found that merging businesses face significant competition, including from rivals like McAfee. The CMA also said that security applications provided by Microsoft, which owns the Windows operating system, provides an increasingly important alternative for consumers.
In recent years, the tech giant has improved its free built-in security application so that it now offers protection which is as good as many of the products offered by specialist suppliers, the watchdog said.
Kirstin Baker, chair of the CMA inquiry group, said:
Millions of people across the UK rely on cyber safety services to keep them safe online.
After gathering further information from the companies involved and other industry players, we are currently satisfied that this deal won’t worsen the options available to consumers. As such, we have provisionally concluded that the deal can go ahead.
The post CMA provisionally clears cyber firm NortonLifeLock’s £7bn bid for Avast appeared first on CityAM.
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