CVC-backed Avast to buy AVG Tech for $1.3 bln

By on Juli 7, 2016

Target: AVG Technologies N.V.

Dealtype: buy-out

Country: netherlands

Branch: software & it

Buyer: Avast Software / CVC Capital Partners, Summit Partners

Seller: TA Associates

Transaction: Avast Software, an industry-leading maker of the most trusted security software in the world, and AVG Technologies N.V., a developer of business, mobile and PC device security software applications, today announced that they have entered into a purchase agreement in which Avast will offer to purchase all of the outstanding ordinary shares of AVG for $25.00 per share in cash, for a total consideration of approximately $1.3B. Both companies are industry pioneers founded in the Czech Republic in the late 1980s and early 1990s, that expanded internationally in the 2000s, and now will be combining complementary strengths to position Avast for continued growth in the security industry. Avast is backed by CVC Capital Partners and Summit Partners. TA Associates owns a minority stake in AVG. Jefferies International Limited is acting as exclusive financial advisor, and White & Case LLP and De Brauw Blackstone Westbroek N.V. are acting as legal advisors, to Avast. Morgan Stanley & Co. LLC is acting as financial advisor to AVG and Bridge Street …

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