CVC Capital Partners invests in Avast Software with a $1 billion valuation
CVC Capital Partners has announced today that they are making a “major” investment in Avast Software, which values the anti-virus company at $1 billion. CVC Capital Partners will become a shareholder along with Summit Partners and Avast founders Eduard Kucera and Pavel Baudia by buying existing stock in the company.
CVC is interested in Avast penetrating other English-speaking markets. Avast offers privacy, security, and identity-protection software to over 200 million users. Avast also created an optimization product called GrimeFight that helps PCs run more efficiently.
Avast is based in Prague and has operations in Redwood City, California. The company was founded in 1988 and they use a “freemium” based model. Summit Partners invested $100 million for a minority stake in the company.