Avast eventually shuttered the data-collection business unit, but maintained that the business did not violate European data privacy laws. The firm said that it would “look at potentially adding other currencies in the future.”Īvast, on the other hand, recently came under fire after Czech Republic regulators said they would investigate the firm following reports from PCMag and Motherboard that Avast sold user data via a subsidiary business, potentially violating data privacy rules. In a product update in July, NortonLifeLock pitched the Norton Crypto feature as a safer way for people to mine cryptocurrencies while their computers are idle without having to disable their device’s security tools.
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(Hackers sometimes install surreptitious crypto-mining software on people’s machines to make a profit, an attack called “ cryptojacking.”) The company said its popular Norton 360 antivirus software would let users “ mine” Ether, the cryptocurrency associated with Ethereum. NortonLifeLock turned heads when it hopped on the cryptocurrency bandwagon in June.
In 2019, Symantec changed its name to NortonLifeLock after chip vendor Broadcom bought its enterprise security business for more than $10 billion. Three years earlier, Symantec had acquired Blue Coat, an IT firm known for helping companies scan Internet traffic for threats, in a nearly $5 billion deal. Their offerings include phishing-protection, password managers, and tools for accessing the Internet using virtual private networks, or VPNs. Investors appear to be pleased that the firm is joining forces with another major security software vendor and consolidating the market.īoth NortonLifeLock and Avast sell antivirus software and other related consumer-centric security products.
Shares of NortonLifeLock, formerly known as Symantec, were up about 8.7% to $26.25 at the market’s close on Wednesday.
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