AVG Technologies gets suitors
07 Nov 2014
Online security company AVG Technologies NV has been approached by potential buyers, The Wall Street Journal yesterday reported, citing people familiar with the matter.
The report said that the approach has been made mainly by private-equity firms, but at least one other technology company is also in the race.
Although there is no formal sale process, but should there be a deal, it would likely come in the coming months, the report added.
Founded in 1991 and listed in 2012, Amsterdam-based AVG Technologies is an online security company providing software and services to secure devices, data and people.
It has over 187 million active users, as of 31 March 2014, and posted net income of $63.7 million in 2013 on revenues of $407 million.
The company has a market cap of $929 million and employs around 1,000 people globally.
AVG has grown through acquisitions, including the 2006 purchase of ewido Networks, Exploit Prevention Labs in 2007 and Sana Security in 2009.
It acquired mobile-security firm Location Labs early this year and this week announced plans of buying Norwegian software maker Norman Safeground.
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