The amount of the deal was not disclosed. Anyways, the transaction, which is expected to close in March 2014 and value the company at $1 billion, will allow it to expand its global reach into mobile security and the USA.
Founded in 1988 and led by Vince Steckler, CEO, AVAST provides security software for PCs, smartphones, and tablets for businesses and home users.
The company has more than 200 million users in 40 languages. Its PC security protects nearly 170 million PCs while avast! Mobile Security protects nearly 40 million Android devices.
AVAST products also include:
– SafeZone, which provides a virtual environment for online transactions;
– avast! EasyPass, a password storage facility;
– avast! BackUp, a cloud backup facility;
– avast! Secureline VPN, which secures any public WiFi and makes browsing anonymous; and
– avast! Browser Cleanup, which deletes unwanted toolbars and plugins.
The company, which is also launching avast! GrimeFighter, a PC optimization and clean-up utility, is backed by Summit Partners, which invested in AVAST Software in 2010.
In conjunction with the investment, Credit Suisse, UBS and Jefferies International provided financing including further facilities to fund operations and acquisitions.