Merger Update: NortonLifeLock/Avast

RNS Announcement

RNS Number : 9619F

Competition and Markets Authority

25 March 2022

Merger reference decision announced:

On 16 March 2022, the CMA decided that it was or may be the case that the following Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Anticipated acquisition by NortonLifeLock Inc. of Avast plc

Pursuant to section 73A(1) of the Act, the Parties had until 23 March 2022 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2004 (the Act). On 18 March 2022 the Parties informed the CMA that it would not be offering any undertakings. The CMA has therefore decided to refer this Merger for a phase 2 investigation pursuant to sections 33(1) and 34ZA(2) of the Act.

The text of this decision will be placed on the Competition and Markets Authority's website at https://www.gov.uk/cma-cases as soon as is reasonably practicable.

In the event of media enquiries please contact Press@cma.gov.uk.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MERBLGDXDDDDGDS

RNS metadata

Title: Merger Update: NortonLifeLock/Avast
Time: 07:30:08
Date: 25 Mar 2022
Category: Acquisitions and alliances
ID: 9619F