Europe’s largest antivirus company, Kaspersky Lab, will buy back the company’s shares held by the investment firm General Atlantic as well as the shares of some individual shareholders. Kaspersky Lab will use profits accumulated over the past years for a share repurchase, it announced. The company will cancel the repurchased shares. Kaspersky Lab will rull out IPO plans and remain private.
The growth equity investor General Atlantic bought out a 20% stake in Kaspersky Lab for $200 million in January 2011.
Founded in 1997, Kaspersky Lab is ranked as world’s top four vendor of security solutions for endpoint users. In 2010, Kaspersky Lab reported annual revenues of more than $500 million, up 38% from 2009. Its flagship consumer products are Kaspersky Internet Security 2012, Kaspersky PURE and Kaspersky Mobile Security. Over 300 million people worldwide are protected by Kaspersky Lab‘s products and technologies. Kaspersky Lab’s corporate client base exceeds 200,000 companies.