TA Associates, a growth private equity firm, has bought a minority stake in AVG Technologies, a global provider of computer security software for more than $200m.
The deal will add another minority investor to the current ownership of AVG Technologies, which also includes investments from Enterprise Investors, Benson Oak Capital and Intel Capital.
In addition, as a result of the funding, two representatives from TA will join the company’s board of directors.
Commenting on the deal, JR Smith, CEO of AVG Technologies, said: “This is a major stake in the ground for AVG at a pivotal time in the marketplace.
“In the coming months, AVG will be moving forward with landmark small business and consumer offerings – this investment positions our company nicely for continued growth”.
Jonathan Meeks, a Managing Director of TA Associates who will join AVG’s board of directors, said: “We believe our investment will be key to taking AVG from an important mid-size contributor to a true market force, both through organic growth and acquisitions”.
FinSMEs
05/10/2009