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Files under: News
Posted by: Quintura @ 16:49 [6. 10. 09]
 The growth private equity firm, TA Associates has acquired a 25 percent stake in AVG Technologies (formerly Grisoft), global security software vendor for $200 million. The stake was purchased from AVG’s shareholders, private equity and venture capital investors Enterprise Investors, Intel Capital and Benson Oak Capital. The fund managed by Enterprise Investors remains the largest shareholder of AVG with a 34 percent stake. The deal is the largest private equity transaction in Eastern Europe in 2009.
The investment implies an equity value of AVG of $800 million, 10 times increase from its value of $80 million in 2005 when Enterprise Investors and Intel Capital acquired a 65 percent stake in AVG for $52 million from Benson Oak Capital. In 2001, the founder Jan Gritzbach sold the company to Benson Oak.
AVG Technologies, which has over 80 million user worldwide, generated sales of $140 million in 2008.
Grisoft was started by Jan Gritzbach and Tomáš Hofer in the Czech Republic in 1991. The company introduced the first AVG (or Anti-Virus Guard) product to the local market in 1992. In 1997-98, the first AVG licenses were sold in Germany and the UK. In 2006, Grisoft acquired an anti-spyware vendor Ewido Networks of Germany. In 2009, AVG acquired identity fraud prevention software vendor Sana Security.
Tags: AVG TA, TA Associates AVG
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