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CVC investment in AVAST Software values business at $1bn

6 Feb 2014

security cameraPrivate equity major CVC Capital Partners has agreed an investment in Czech Republic-headquartered security software business AVAST which values the company at $1bn.

AVAST said the new capital provided by the investment would be used to position the business to expand its reach into mobile security and the US market.

Global growth investor Summit Partners invested $100m for a minority stake in AVAST in 2010
and remains a shareholder alongside AVAST founders Eduard Kučera and Pavel
Baudiš.

CVC partner and TMT head Lorne Somerville and managing director, “We are thrilled to be partnering with AVAST and its outstanding management team to support their strategic vision for the company.

“AVAST’s focus on customer experience, best-in-class technology, and rapid growth in mobile set it apart from any other security software company.

“Furthermore, we firmly believe in its ability to offer more and more to its 200 million users, driven by the philosophy that its free products should be better than the paid products offered by others.

“We look forward to joining the founders and Summit Partners as we support the company through its next exciting phase of growth.”

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