The CMA has found that NortonLifeLock’s approximately £6 billion purchase of Avast raises competition concerns and may now be referred for an in-depth investigation.

The news comes after the US cybersecurity firm agreed to buy the EU-based company in August.

NortonLifeLock and Avast both offer cyber safety software to consumers under a variety of different brands.

Their products include antivirus software, endpoint security software, and privacy software, including VPNs and identity protection software.

The CMA said that as the companies are close competitors, with few other significant rivals, it is concerned that if completed the proposed deal could lead to a reduction in competition in the UK market.

The competition watchdog said this could lead to UK consumers getting a worse deal when looking for cyber safety software in the future.

The move by the regulator comes at a time when the cybersecurity market is undergoing rapid consolidation.

Google announced earlier this month that it is set to buy US cybersecurity firm Mandiant for $5.4 billion.

“We are living more of our lives online and it is vital that people have access to competitive cyber safety software when seeking to protect themselves and their families,” said David Stewart, executive director at the CMA “NortonLifeLock’s proposed purchase of Avast could lead to a reduction in competition in the UK and ultimately a worse deal for consumers when looking for cyber safety software.”

He added: “Unless the companies can offer a clear-cut solution to address our concerns, we intend to carry out an in-depth phase 2 investigation”.

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