NortonLifeLock Inc. (NasdaqGS:NLOK) agreed to acquire Avira Holding GmbH & Co. KG from Investcorp Technology Partners IV L.P., a fund managed by Investcorp Holdings B.S.C. (BAX:INVCORP) for approximately $360 million on December 7, 2020. Upon deal completion, Avira Chief Executive Officer Travis Witteveen and Chief Technology Officer Matthias Ollig will join the NortonLifeLock leadership team. Subject to regulatory, antitrust and customary closing conditions, the acquisition is expected to close in the fiscal 2021 fourth quarter. The transaction is financially accretive in the first year and is expected to achieve approximately 50% operating margin post-synergies.

Michael Cziesla, Norman Wasse, Kian Tauser, Heiko Kermer, Marcus Fischer, Daniel von Brevern and Nikolas Koutsós acted as legal adviser for McDermott Will & Emery Rechtsanwälte Steuerberater LLP for Investcorp Technology Partners. Ernst & Young acted as financial and due diligence advisor to NortonLifeLock Inc. (NasdaqGS:NLOK).

NortonLifeLock Inc. (NasdaqGS:NLOK) completed the acquisition of Avira Holding GmbH & Co. KG from Investcorp Technology Partners IV L.P., a fund managed by Investcorp Holdings B.S.C. (BAX:INVCORP) on January 8, 2021.