AVG Technologies Acquires DroidSecurity For $4.1M Plus $5.3M Earnout

AVG Technologies, a popular anti-virus software company has acquired security app developer company DroidSecurity in a deal that is valued at $4.1 million with a $5.3 million earnest. Israeli based DroidSecurity is being sold by Maayan Ventures, who owns 39% of the Android security software company. A group of private investors also had ownership in DroidSecurity. Maayan had only invested $100,000 in the company and DroidSecurity also received a $500,000 grant from the Office of the Chief Scientist’s Incubator Program. DroidSecurity sells free and paid apps to secure Android smartphones and tablets. They saw about 4.5 million downloads of their apps so far. [moConews]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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