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Avast closes AVG buyout

Avast has closed the acquisition of one-time free-of-charge security scanner rival AVG Technologies.

The combined entity boasted more than $700m in revenue for 2016 and 400 million customers, with significant mobile and SMB market share. Vince Steckler has been named the chief executive officer of the new Avast, with AVG’s former boss Gary Kovacs departing, although he's apparently still available on a "consultancy basis".

Avast announced a $1.3bn deal to buy AVG in July – essentially in order to scale out geographically and to take advantage of AVG's more established reseller base rather than to acquire new technologies. Opportunities for growth for the new Avast centre around securing the fast-expanding Internet of Things market, internet-connected devices that cover everything from cars and smart meters to fridges and smart TVs. ®

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