(Sharecast News) - The Competition and Markets Authority has cleared NortonLifeLock's acquisition of Avast.
NortonLifeLock agreed to buy cybersecurity software developer Avast in August last year, in a deal worth up to $8.6bn (£6.53bn).
The watchdog, which launched an in-depth probe into the takeover earlier in the year, found that the merging businesses face significant competition. This comes from McAfee - their main rival - plus a range of other suppliers that currently have a smaller market position in the UK.
The CMA also found that security applications provided by Microsoft, which holds a unique position in the market as the owner of the Windows operating system, offer increasingly important alternatives for consumers.
"In recent years, Microsoft has improved its built-in, bundled security application so that it now offers protection which is as good as many of the products offered by specialist suppliers. In addition, applications recently launched by Microsoft for its customers bring its cyber safety offering closer to those of the merging businesses and are likely to further strengthen Microsoft as a competitor going forward," the CMA said.
"On this basis, the CMA considers that the merging businesses will continue to face sufficient competition after the deal completes and has concluded that the merger does not raise competition concerns."
