Connect with us

Tech

Major merge – US computer security firm’s $8 billion purchase

Published

on

US computer security firm Norton has purchased Avast for over $8 billion

Norton’s Chief Executive says the move is a “huge step forward for consumer cyber safety”.

NORTON

The deal secures a leading cyber consumer business and is expected to create a new entity with over 500 million users.

Avast is based in Prague and its offices will be retained. Meanwhile, Norton will retain its offices in Arizona.

The two companies said in the joint press release that their respective boards of directors see an opportunity to “create a new, industry-leading consumer Cyber Safety business, leveraging the established brands, technology and innovation of both groups to deliver substantial benefits to consumers, shareholders, and other stakeholders.”

The two companies said the deal will bring together product lines that are broadly complementary, while giving the combined company a user base of over half a billion customers.

“The deal will broaden the geographic market coverage of the combined company. In addition, the two expect to realise “$280 million of annual gross cost synergies.”

AVAST

NortonLifeLock CEO Vincent Pilette called the deal “a huge step forward for consumer Cyber Safety” that he said “will ultimately enable us to achieve our vision to protect and empower people to live their digital lives safely.”

 “With this combination, we can strengthen our Cyber Safety platform and make it available to more than 500 million users. We will also have the ability to further accelerate innovation to transform Cyber Safety.”

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

ChatGPT creator releases tool to detect A.I. generated text

Published

on

OpenAI has released a software tool that can identify if text has been generated by artificial intelligence

The company behind the popular chatbot ChatGPT says it has trained a language model to distinguish between something written by a human, and A.I.

‘AI Classifier’ uses a variety of providers to address issues such as automated misinformation campaigns and academic dishonesty.

The detection tool is very unreliable on texts under one thousand characters, and AI-written text can be edited to trick the classifier.

Many schools across the world have already banned ChatGPT from being used for projects.

Continue Reading

Business

Elon Musk asks court to throw case out

Published

on

Twitter CEO Elon Musk has asked a judge in the U.S. to throw out a case against him

 
The suit claims Musk’s delayed disclosure over his large stake in the social media giant defrauded shareholders, who sold out at artificially lower prices.

Musk says investors in the proposed class action have no independent right to obtain damages.

The CEO believes he properly disclosed his stakes in Tesla and the former SolarCity Corp on several occasions, as per requirements.

Continue Reading

Business

Samsung reports lowest quarterly profit in eight years

Published

on

Samsung has reported its lowest quarterly profit in eight years, dropping 69 per cent

The company believes sluggish demand and macroeconomic uncertainty will make for a tough first half, though demand will likely recover in the second half.

The South Korean tech giant made $3.5billion profit for the quarter – the lowest since 2014 – with revenue down eight per cent.

In its chip business, profits also plunged when compared to year ago.

Memory chip prices are widely expected to decline further in the first quarter as customers continue to hold off purchases and use up existing inventory while device demand remains depressed.

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2022 The Ticker Company PTY LTD