NortonLifeLock and Avast Merger Provisionally Approved

[TheLostSwede]

NortonLifeLock Inc., a global leader in consumer Cyber Safety, received provisional approval from the U.K. Competition and Markets Authority ("CMA") for its acquisition of Avast plc. NortonLifeLock also released its results for the fiscal year 2023 first quarter, which ended July 1, 2022. "We are excited to start the process of bringing our two companies together now that the CMA has approved our merger with Avast," said Vincent Pilette, CEO of NortonLifeLock. "With this key milestone behind us, we are looking forward to driving innovation and taking Cyber Safety to the next level."

The merger is anticipated to close between mid-September to early-October. The timing is subject to change and is dependent upon the final CMA approval, mutually agreed upon operational considerations and customary closing requirements such as the U.K. court approval of the scheme.




Q1 Financial Highlights and Commentary YoY
Q1 GAAP revenue was $707 million, up 3% in USD. Q1 GAAP diluted EPS from continuing operations was $0.33, up 6%. Q1 operating cash flow was $215 million, down 17%.

Q1 Non-GAAP YoY
Revenue of $708 million, up 2% in USD and 6% in CC
Diluted EPS of $0.45, up 7%
Bookings of $663 million, up 1% in USD and 5% in CC
Operating margin was 53.7%, up 250 bps
Direct customer count of 23.3 million, up 0.2 million
"Q1 was another quarter of solid execution by our team, and in the face of macroeconomic headwinds, we delivered our 12th consecutive quarter of bookings growth," said Natalie Derse, CFO of NortonLifeLock. "Now with the Avast acquisition provisionally approved, we look forward to bringing our operational discipline to the integration planning and quickly setting the foundation of the company for growth."

Fiscal 2023 Q2 Guidance
Non-GAAP Revenue expected to be in the range of $695 million to $705 million, translating to mid-single-digit growth YoY in constant currency, including 4+ points or approximately $30 million of FX headwind
Non-GAAP EPS expected to be in the range of $0.44 to $0.46, including $0.03 FX headwind YoY
Quarterly Cash Dividend

NortonLifeLock's Board of Directors has declared a quarterly cash dividend of $0.125 per common share to be paid on September 14, 2022, to all shareholders of record as of the close of business on August 22, 2022.

View at TechPowerUp Main Site | Source

 

[trparky]

There goes the neighborhood.

 

[ThrashZone]

Hi,
Both are obsolete
Avast killed themselves with all the bloat
Norton died long ago only people that live in caves use them now.

 

[mahirzukic2]

Hi,
Both are obsolete
Avast killed themselves with all the bloat
Norton died long ago only people that live in caves use them now.

What do people use nowadays? I used to use ESET 32 and it was really good. Haven't used an antivirus in literally ages, probably 6 - 8 years.

 

[GunShot]

What do people use nowadays? I used to use ESET 32 and it was really good. Haven't used an antivirus in literally ages, probably 6 - 8 years.

If Windows Defender is not enough for ANY of your usage (an occasionally, a sweep from Malwarebytes) CHANGE your habits... FAST!

 

[rutra80]

What do people use nowadays? I used to use ESET 32 and it was really good. Haven't used an antivirus in literally ages, probably 6 - 8 years.

Depending on your political block, Kaspersky or BitDefender.

 

[mahirzukic2]

If Windows Defender is not enough for ANY of your usage (an occasionally, a sweep from Malwarebytes) CHANGE your habits... FAST!

That's why I asked, haven't used anything extra since using windows 7 and 10.

 

[trparky]

I'm fine with just using Windows Defender but what about those people who just can't help themselves? What would you suggest in that case?

 

[ThrashZone]

Hi,
Personally I only use mbam pro even on riskware like win-7 I'm not scared of the buggerman

 

[Assimilator]

I'm fine with just using Windows Defender but what about those people who just can't help themselves? What would you suggest in that case?

That they off themselves to save the world from their stupidity.

 

[R-T-B]

That they off themselves to save the world from their stupidity.

But I like grandma...

 

[trparky]

But I like grandma...

And there you go. There are people out there that need more handholding than those of us who roam these forums and others like it. For those kinds of people, what would you all suggest?

 

[R-T-B]

And there you go. There are people out there that need more handholding than those of us who roam these forums and others like it. For those kinds of people, what would you all suggest?

I don't have the answer as I use no AV (pretty confident in myself) and my Grandma actually has (or had, she died a few years back) her mind pretty sharp...

I just don't think it's appropriate logic to tell Grandma to kill herself because she fails at the PC.

 

[trparky]

I just don't think it's appropriate logic to tell Grandma to kill herself because she fails at the PC.

Agreed!!!

 

[Mussels]

This got worse than the IC diamond thread, what is it with threats to grandmas?
Be nice. I'm trying to play with glow in the dark coolant here.


Norton and Avast is like dogshit and catshit joining together in the same compost heap, except they're both plastic so they don't even work as fertilizer.


Kaspersky has a great free product, but it auto installs a VPN you'd want to remove - and of course, political issues arise when they're a Russian company. AFAIK, there's zero evidence of them with any wrongdoing.
Bitdefender is popular as well, but it requires you to make an account and login and such, which some people dislike.

Malwarebytes is more annoying these days, but still fully usable. They really push you to get their pro version with Realtime scanning, when they've always been best at like a once a month (or year) cleanup scan.


I haven't had anything sneak past any of the above, even defender, in years - what instead happens, is they all have too many false positives and delete things i actually want (like when I did Eth mining, they'd all go bonkers that nicehash was totally a nasty mining virus)

 

[springs113]

I'm fine with just using Windows Defender but what about those people who just can't help themselves? What would you suggest in that case?

Kaspersky or Bitdefender... I jumped ship in that fashion.

 

[Athlonite]

I'm fine with just using Windows Defender but what about those people who just can't help themselves? What would you suggest in that case?

I would suggest they pack their PC up in the box it came in and take it back to the shop they bought it from. And when asked what's wrong with it they can honestly say nothing I'm just too stupid to own one

 

[Assimilator]

And there you go. There are people out there that need more handholding than those of us who roam these forums and others like it. For those kinds of people, what would you all suggest?

NOTHING. It.s no longer 1998 and Windows has a built-in antivirus that's pretty good. Get educated and stop paying spyware companies like Norton for nothing.

 

[tfdsaf]

Use Comodo security suite, as its the best product out in the market. Professional grade protection for end users, but it is slightly more difficult to use than say Bitdefender or Avira.

 

[R-T-B]

This got worse than the IC diamond thread,

You and I both know that's an exaggeration...

Either way I'll cool it. I was just using grandma as an example of why people who can't use a PC shouldn't be told to basically "kys."

 

[silentbogo]

A match made in heaven. All the bloatware, adware, malware, and crypto-scams - now under the same roof

For those kinds of people, what would you all suggest?

Same things as usual, which even my 73 y.o. stepdad knows:
1) don't install random shit off the internet, especially if you don't know whether you need it or not.
2) Free cheese can only be found in a mousetrap

 

[LabRat 891]

They deserve each other.
No one deserves being either's customer.