Security giant Avast has announced it intends to acquire fellow Czech-based antivirus software maker AVG for a purchase price of $25.00 per share in cash — resulting in a transaction that will total around $1.3 billion.

Avast intends to finance the transaction using cash balances it holds, along with committed debt financing from third party lenders.

The deal is aimed at gaining scale and geographical breadth, Avast said today.

It also wants to build out its security offerings with an eye on emerging growth opportunities such as in the Internet of Things, as well as on serve existing customers with more advanced products.

Organization efficiencies are also expected as a result of the acquisition, so presumably there will be some staff reductions owing to duplicate roles.

On this, a spokeswoman for Avast said: We haven t started planning the team integration yet.

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