According to the press release, the deal will help Avast gain scale, technological depth and geographical breadth so that the new organization can take advantage of emerging growth opportunities and enhance organizational efficiency.
“Our new scale will allow us to accelerate investments in growing markets and continue to focus on providing comprehensive and simple-to-use solutions for consumers and businesses alike,” AVG Chief Executive Officer Gary Kovacs told the WSJ.
Related: 46 Tech ETFs to Tap Into Big Growth Names
Cybersecurity-related ETFs have quickly gained a wide following after a number of high-profile cyber security breaches since the second quarter of 2014 involving companies such as Apple (NasdaqGS: AAPL), Tesla (NasdaqGS: TSLA), Starbucks (NasdaqGS: SBUX) and, on multiple occasions, the federal government.
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