Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Endpoint Security

Czech Antivirus Targets London’s Biggest Tech Float

Czech antivirus software maker Avast announced Thursday that it will float on the London stock market next month in the British capital’s biggest ever technology IPO.

Czech antivirus software maker Avast announced Thursday that it will float on the London stock market next month in the British capital’s biggest ever technology IPO.

“Avast … today announces that it intends to proceed with an initial public offering” in London, it said in a statement, adding that it was expected to occur in early May.

Prague-based Avast, one of the world’s biggest online security software companies, will seek to float at least 25 percent of its share capital.

The IPO could value it at $4.0 billion (3.2 billion euros), according to the Financial Times.

“Over the past thirty years, Avast has grown from a visionary start-up to the number one consumer cybersecurity company,” said Avast chief executive Vincent Steckler.

“This transformation of our company has happened because of the dramatic increase in the number and types of threats around the world which are a growing concern to people, and Avast’s ability to stay ahead of the bad guys with new and evolving technologies and products.”

The group is well positioned to take advantage of an expanding consumer cybersecurity market, which Steckler said was forecast to grow 10 percent annually and reach $21 billion by 2021.

Avast is 46-percent owned by its founders, while investment company CVC has a 29-percent stake.

The group, which has more than 435 million users around the world, has a workforce of 1,700 people and generated sales of $653 million in 2017. Avast purchased Dutch rival AVG Technologies in 2016.

Related: Carbon Black Prepares for $100 Million IPO

Written By

AFP 2023

Click to comment

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

Industry professionals comment on the recent disruption of the Hive ransomware operation and its hacking by law enforcement.

Management & Strategy

Tens of cybersecurity companies have announced cutting staff over the past year, in some cases significant portions of their global workforce.

Management & Strategy

Microsoft making a multiyear, multibillion dollar investment in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools.

Funding/M&A

Twenty-one cybersecurity-related M&A deals were announced in December 2022.

Application Security

Electric car maker Tesla is using the annual Pwn2Own hacker contest to incentivize security researchers to showcase complex exploit chains that can lead to...