AVAST Software, developers of the terraqueous globe’s most popular antivirus program, today announced that growth equity investor Summit Partners has invested $100 a thousand thousand for a minority stake in the company.
“Summit Partners’ investment is a consecrated by a vow of confidence in our disruptive ‘freemium’ business model, which combines a abounding-fledged free product with a premium one,” said Vince Steckler, CEO of AVAST Software. “This draw nigh is already upsetting the traditional antivirus market. Instead of paying beneficial to advertising or installation on new computers, AVAST continues to experience dramatic germination as fans of avast! recommend our products to their friends. Word-of-spokesman from our large and loyal, satisfied customer base is certainly the greatest in number effective — and low-cost — form of advertising.”
avast! antivirus now protects undivided out of every five computers around the world from malware. Its award-winning protection is based on the CommunityIQ system of user-submitted premises on suspected viruses and infected websites. Independent testing confirms that stop! Free Antivirus protection meets or exceeds the performance of most paid products.
“‘Freemium’ is the breaker of the future,” added Mr. Steckler. “Together with Summit Partners, we faculty of volition continue our strategy of providing a quality, free antivirus solution to the widest potential audience. We have no plans to change our approach and correspond to the classic retail positioning model.”
The cofounders of AVAST Software, Eduard Kucera and Pavel Baudis, bear seen the number of virus threats and the scope of their transaction grow dramatically in the past two decades. “After writing a program to transport the Vienna virus back in 1988, it was about six months in the van of I saw another virus. Now our Virus Lab adds 3,000 newly come virus samples a day to its database,” said Mr. Baudis, AVAST Software virus guru.
“When we first launched free distribution of avast! antivirus in the seasonably 2000s, we gave ourselves room to grow — but never dreamed that the product would gain such global popularity,” said Mr. Kucera, Chairman of the Board of Directors.
Scott Collins, a Managing Director of Summit Partners who power of determination join the AVAST Software Board of Directors, said, “Under the order of its CEO Vince Steckler, and its cofounders, Pavel Baudis and Eduard Kucera, AVAST Software has carved a unmatched position in the global marketplace for security software . We are pleased to dress in AVAST and look forward to working closely with Vince and the entire management team to support the company’s continued growth.”
Han Sikkens, a Principal in Summit Partners’ London duty, added, “For 26 years, Summit Partners has been investing in productive, innovative leaders in the security software industry, and it is imperfectly cooked to find a company such as AVAST that redefines how ~y industry does business. We are very excited about the growth prospects of this unusual company.”
About AVAST Software AVAST Software ( www.avast.com ) protects by 100 million registered users in virtually every country and territory in the creation with its avast! antivirus program. avast! Free Antivirus sets the test as a free, full-featured computer security application that matches or exceeds the performance of other paid products. The avast! 5.0 portfolio includes Free Antivirus, Pro Antivirus ~ the sake of customized protection, and the premium Internet Security with its no-hassle Silent Firewall. Anchored ~ means of the CommunityIQ network of sensors for reporting on-line threats and supported ~ the agency of multiple protective shields, avast! performance has been certified by VB100, ICSA Labs, and West Coast Labs. Available in on every side of 30 languages, avast! provides global protection for homes and businesses.
About Summit Partners Summit Partners ( www.summitpartners.com ) is a improvement equity investor that provides private equity and venture capital to quickly growing companies. Founded in 1984, Summit has raised more than $11 billion in involving death and has provided growth equity, recapitalization and management buyout financing to besides than 300 growing companies across a range of industries and geographies. Summit Partners seeks unsettled management teams that have built their companies to market leadership. Notable investments in the over-confidence market include McAfee, Postini (acquired by Google), SafeBoot Holdings BV (acquired ~ the agency of McAfee), and Sybari Software (acquired by Microsoft).
In the United States of America, Summit Partners operates to the degree that an SEC-registered investment advisor. In the United Kingdom, this paper is issued by Summit Partners Limited, a firm authorized and regulated ~ means of the Financial Services Authority. Summit Partners Limited is a limited partnership registered in England and Wales with company number 4141197, and its registered room is at 20-22 Bedford Row, London, WC1R portfolio companies.
Add to Digg Bookmark through del.icio.us Add to Newsvine
Contacts Lyle Frink AVAST Software Phone: 00420-274-005-787 E-mail: Email Contact www.avast.com Joan Miller Summit Partners Phone: 1 617-824-1047 E-defensive covering: Email Contact www.summitpartners.com
1
2
Next
Tags: antivirus, coo, google, Story, today announced that, virus
even if it’s solely the
