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Avast Software has entered into an agreement with the Czech based antivirus company AVG Technologies to acquire it for approximately $1.3 billion in an all-stock deal. The acquisition will be completed after obtaining the necessary regulatory and shareholders’ approval. AVG’s board has already approved the deal. The transaction is expected to close sometime between September 15, and October 15, 2016, depending on the timing of regulatory review.

Both companies will be merged to form a single organisation, having a combined user base of more than 400 million, of which 160 million are on mobile. This acquisition will help Avast to expand its geographical reach and technological capabilities, the company said in a statement. However, a spokesperson from Avast told TechCrunch that the AVG brand will continue to exist.

Avast plans to fund the transaction by using its own money as well as debt from third party lenders. It has already received a financing commitment of $1.685 billion from Credit Suisse Securities, Jefferies and UBS Investment Bank. The company has contributed $150 million in equity investment.

AVG currently offers antivirus softwares for PCs, Macs and mobile devices, and security solutions for organisations and businesses. It also provides other utility and performance toolkits for PCs. In addition, AVG has developed cloud security solutions named AVG CloudCare for businesses, and a remote management and monitoring solutions for organizations with distributed offices.

AVG Financials: For the quarter ended March 31, 2016 (Q1 FY16), AVG reported total revenues of $107.9 million, which is marginally down from $109.5 million in the previous quarter (Q4 FY15). Non-GAAP adjusted operating income was $29.4 million during Q1 FY16, compared with $31.7 million for the same quarter last year.

Previous acquisitions from Avast

– Remotium acquisition: In July 2015, Avast  acquired networking software maker Remotium for an undisclosed amount. Remotium offered a virtual mobile networking solutions that allowed users to work remotely from their home office or while on business trips. These software capapbilities were later integrated with AVG’s remote management and monitoring solutions.

– Secure.me acquisition: In April 2013, AVAST acquired secure.me, a company that offered social network security by keeping users’ apps from over-collection of personal or sensitive information. AVAST used the acquisition to build core technologies in social media privacy, advanced content inspection, and mobile device application security.