Famous Czech company Avast antivirus software today surprised by the announcement of the purchase of the original Brno competing antivirus firm AVG Technologies. Avast purchase came to $ 1.3 billion.
It is based in the Netherlands, but it is interesting that as Avast was originally established in the Czech Republic, where it was founded by Jan Gritzbach together with his colleague Tomáš Hofer.
Avast, backed by investment fund CVC Capital Partners, the AVG apparently offered $ 25 per share, representing a premium of about 33 percent to yesterday’s closing price of AVG on the New York NYSE.O d transactions can then Avast promises particularly more traction, technological depth and opening new markets.
“Our industry is experiencing great changes, and this acquisition will provide us with the breadth and scope to remain on the cutting edge, as existing customers as well as for nové.Pro Czech company as Avast is to be the preferred product for a number of users huge success, and we greatly appreciate the confidence that customers have in our products and services are inserted.Combining these two great technology companies – which, incidentally, for a long time share the same values and similar corporate culture – gives us a unique opportunity to seize new opportunities, opening a new chapter in our growth. “Said Vince Steckler, CEO of AVAST Software.
AVG CEO Gary Kovacs adds …
“We are pleased to become part of Avast, which had, as companies not listed on the stock exchange, the ability to always focus on long-term strategic objectives in the areas of security companies and end uživatele.Velikost new company will allow it to invest more into growing markets, including in the context of connecting more devices to the Internet and its souvesejícímu growing number of threats in the era of Internet of things (IoT). “
According to bloomberg, the two companies will settle $1.3 billion in cash transactions and backed by equity bid $ 25 per share, which is by 33% more than yesterday’s closing price of shares on the stock exchange AVG. The acquisition should Avast obviously also help in extending the scope of which had not small. According to last year’s data controls 21.4% Avast antivirus software market and is a leader in this field. AVG with its nearly 9 percent Avast will help to consolidate this position and controlling about 30% of the entire market. For comparison, competing Slovak ESET has a share of less than 5 percent. .
We’ll see how much the acquisition effect on future products from Avast, and if necessary we will see something completely new. However, it is certain that Avast this merger clearly has established market position.