AVAST Software, a Prague, Czech Republic-based company that develops one of the world’s most popular antivirus program, has received a $100m equity investment from Summit Partners.
Summit Partners, which has taken a minority stake in the company, will help Avast to continue to follow its strategy of providing a free antivirus solution to the widest possible audience.
“We have no plans to change our approach and conform to the classic retail positioning model”, Vince Steckler, CEO of AVAST Software said.
In conjunction with the investment, Scott Collins, a Managing Director of Summit Partners, will join AVAST Software’s Board of Directors. Eduard Kucera. co-founder of the company alongside Pavel Baudis, is the Chairman of the Board.
AVAST Software currently protects over 100 million registered users in the world with its avast! antivirus program. It is a free, full-featured computer security application global protection for homes and businesses, which is today available in around 30 languages.