Summit Partners, which has invested since 2010, remains one of Avast’s minority investors alongside Czech entrepreneurs Pavel Baudiš and Eduard Kučera who founded the company in 1991.Īvast, which has former SAP Chief Operating Officer Erwin Gunst on its board, posted revenues of $714 million in 2016 with core earnings of $353 million. rival AVG Technologies in 2016 and the purchase of London-based optimization software firm Piriform in July for an undisclosed amount.Ĭhief executive Vincent Steckler told Reuters in 2015 that the company was then worth “upwards of $2 billion” and it would take a few more years before the business was ready to go public.
It says it handles about 3.5 billion virus attacks per month in over 150 countries.Īvast’s enterprise value has more than tripled in recent years following a series of bolt-on acquisitions including a $1.3 billion swoop on U.S.
WannaCry infected more than 300,000 computers in at least 150 countries in a matter of days, demanding victims pay ransoms to regain access to their machines. Interest in cyber security companies has risen as a series of global cyber attacks this year have disrupted businesses and government services worldwide, including the National Health Service (NHS) in England. However, it would have to navigate a tough market, which has seen a number of planned London listings pulled in recent weeks. If successful, Avast’s IPO would represent the largest ever UK technology IPO. MADRID/LONDON (Reuters) - The owners of Avast Software have hired Rothschild to prepare the business for a share sale which could value one of the world’s most used providers of computer antivirus software at as much as $4 billion, four sources familiar with the matter told Reuters.ĬVC Capital Partners, which took control of the Prague-based company in 2014, could seek an initial public offering (IPO) in London for Avast in the first half of next year if market conditions allow, two of the sources said.
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