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General Atlantic to Acquire 20% of Kaspersky Lab for $200M+

Files under: News, Tech
Posted by: admin @ 15:41 [19. 01. 11]

Global growth private equity firm General Atlantic has agreed to acquire a stake in Russian IT security software vendor Kaspersky Lab, said its Chief Operating Officer Eugene Buyakin to newspaper Vedomosti. The stake is purchased mostly from Natalya Kaspersky, one of the founders of Kaspersky Lab.

General Atlantic could have paid more than $200 million for a 20% stake, according to the paper. General Atlantic, which will become the second largest shareholder in Kaspersky Lab, will get a Board of Director (BoD) seat in 9-person BoD.

Headquartered in Moscow, Kaspersky Lab was founded by Eugene Kaspersky and Natalya Kaspersky more than thirteen years ago. Eugene Kaspersky, CEO owns a 50% stake in the company. Natalya Kaspersky, Chairman of BoD owned a 30% stake in the company before the acquisition. The company employs over 2,000 people.

Kaspersky Lab is #4 global IT security software vendor for end-users, behind Symantec, McAfee and Trend Micro. Kaspersky Lab reported revenues of $391 million in 2009. Its revenues should have increased by over 35% in 2010.

Update: Kaspersky Labs plans IPO within three to four years, COO Eugene Buyakin said to Businessweek. Kaspersky Labs aims to become the world’s biggest provider of end-user Internet security software within five years. Kaspersky Labs officially announced on its corporate web-site that it partners with General Atlantic.

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