Avast Software has acquired a majority stake in AVG Technologies, creating a $700m revenue business headed up by CEO Vince Steckler.
AVG's CEO Gary Kovacs will be departing, but will be available on a consulting basis throughout the transition.
"The combined company now has over 400 million users, more than 40% of the world's consumer PCs outside of China and the largest consumer security installed base in the world," claimed Steckler.
"The US is now our number one market with 58 million users. We truly have global reach and are proud to be the most popular choice for security in the world."
With the acquisition Avast expands its SMB business and adds AVG's reseller base, enabling Avast to support more and larger organisations.
Avast is also gaining Location Labs and its carrier business, which it plans to invest in and expand overseas.
As a result of the acquisition, Avast holds approximately 87.3% of AVG's outstanding shares acquired upon the closing of the initial offering period for the tender offer.
Avast also announced that it has commenced a subsequent offering period to provide AVG shareholders who have not yet tendered their shares the opportunity to do so.