14 DAY TRIAL // IT security solutions company Avast wants to expand into the United States. Private equity firm CBC Capital Partners is lending it a hand by investing in the firm.
The amount invested has not been disclosed, but Avast says that the investment values the company at $1 billion (€735 million).
“AVAST is the undisputed global leader in consumer PC antivirus and a pacesetter in mobile security – but we’re not yet number one in every market. CVC gives us the resources to become the number one PC security provider in the US and Asia, and the clear market leader in mobile security,” commented Vince Steckler, CEO of Avast.
CVC has been named by Forbes the second best private equity company in the world. As far as Avast is concerned, it’s one of the leading antivirus companies with over 200 million customers.
“AVAST’s focus on customer experience, best-in-class technology, and rapid growth in mobile set it apart from any other security software company. Furthermore, we firmly believe in its ability to offer more and more to its 200 million users, driven by the philosophy that its free products should be better than the paid products offered by others,” CVC representatives said in a joint statement.