White & Case has advised Avast on its merger with NortonLifeLock, structured as the latter’s takeover of the former. Macfarlanes and Kirkland & Ellis advised NortonLifeLock in the UK and the US, respectively.
The deal is expected to close in 2022, following necessary regulatory approvals.
Avast is a Czech developer of cyber security software, machine learning, and artificial intelligence. The Prague-based company employs over 1,700 people across 25 offices worldwide.
NortonLifeLock is an American developer of cyber security software. The company is headquartered in Tempe, Arizona and it employs over 3,500 people internationally.
According to White & Case, “the merger implies an enterprise value for Avast of between approximately USD 8.6 billion and USD 9.2 billion, depending on Avast shareholders' elections.” In addition, according to the firm, “the merger will 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.” Furthermore, “on completion of the merger, the combined company will be dual headquartered in Prague, Czech Republic, and Tempe, Arizona, USA, and will have a significant presence in the Czech Republic.”
White & Case’s team included Czech-based Partner Jan Andrusko and Local Partners Eva Svoboda and Jan Jakoubek; UK-based Partners Dominic Ross, Lucy Bullock, Allan Taylor, Nicholas Greenacre, Marc Israel, Will Smith, Tim Hickman, Amanda Cowell, and Jonah Anderson, and Associates Lachlan Low, Sonica Tolani, Ben von Maur, Elena Ruggiu, Samirah Haujee, Shelley Barnett, Tiffanie Chan, Kate Russell, Peter North, and Kate Kelliher; US-based Partners Chang-Do Gong, Suni Sreepada, Justin Wagstaff, Rebecca Farrington, Kathryn Mims, and Bryan Merryman and Associate Daniel Rosenthal; and Belgium-based Partners Mark Powell and Katarzyna Czaprack, Local Partner Alexandra Rogers, and Associate Iakovos Sarmas.
The Macfarlanes team included Partners Harry Coghill, Tom Rose, Robert Collard, and Jeremy Moncrieff, Senior Solicitors Laura Foley and Saba Palizi, Senior Counsel Rasmus Berglund, Counsels Mark Slade and Tim Redman, and Solicitors Emma Bailey and Natasha Sellayah.
The Kirkland & Ellis team consisted of Partners Edward Lee, Carlo Zenkner, Daniel Wolf, Melissa Hutson, Kirsteen Nicol, Thomas Dobleman, Ambarish Dash, Daniel Amato, Sophia Hudson, Jennifer Lee, Seth Traxler, Emma Flett, Daniel Lewis, Andrea Murino, Paula Riedel, Jeffrey Ayer, Matthew Sinclair-Thomson, Mary Liz Brady, Ivan Schlager, Nathan Mitchell, Sara Zablotney, Scott Price, and Sherry Xie, as well as Associates Michael Chung, Tobias Schad, Julia Knafo, Lee Discher, Phanne Yang, Jenna Trejo, Melanie Corbett, and Whitney Rosser.
