![]() The IPO filing for Avast comes less than two years after acquiring Czech anti-virus software rival AVG to significantly expand its user base. Fellow endpoint security player Carbon Black indicated on Monday that it aims to raise $100 million through a public offering on the Nasdaq Global Select Market, while rising cloud security star Zscaler raised $192 million in a Nasdaq public offering last month. Avast company employs roughly 1,700 people globally, including 600 that work in its Research and Development facilities.Īvast is the third cybersecurity vendor this year – and the second one this week – to file for an initial public offering. The company also supplies privacy protection and other internet utility software to SMBs. Morgan Stanley and UBS will serve as the global coordinators and lead bookrunners for Avast's IPO, according to Reuters. The company said it blocked roughly 2 billion cyberattacks per month last year.Īvast is currently 46 percent owned by its founders, Czech entrepreneurs Pavel Baudis and Eduard Kucera, Reuters reported, with CVC Capital Partners holding a 29 percent stake and Summit Partners occupying a 7 percent position. Avast says it's the world's largest provider of consumer anti-virus software, delivering defense to 40 percent of consumer PCs outside China. Nasdaq, citing difficult market conditions. The move comes six years after Avast scrapped plans to list on the U.S. ![]() The company reported revenue of $714 million and EBITDA (earnings before interest, taxation, depreciation, and amortization) of $353 million in 2016. Avast didn't immediately respond to a CRN request for comment.Īvast also plans to use the primary proceeds of its offering to pay down its debt, according to the company. "As a leading European tech company, a listing on the London Stock Exchange is a strategic and natural fit, providing us with wide access to the capital markets and supporting the future growth of our business in the years ahead," Vincent Steckler, Avast CEO, said in a statement provided to various media outlets. Avast's $1 billion sales target would represent the largest-ever tech IPO in the United Kingdom, and would mean that Sophos is no longer the only cybersecurity firm listed in London. The listing for the Prague, Czech Republic-based company is anticipated in early May, with the company expected to raise $200 million in primary proceeds and $800 million in secondary sales, according to a report from Reuters. Endpoint security behemoth Avast has applied to list its shares on the London Stock Exchange in a move expected to value the company at around $4 billion.
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