Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Malware & Threats

AVAST Software Takes $100 Million Investment from Summit Partners

Boston based private equity and venture capital investment firm, Summit Partners today announced that it has invested $100 million for a minority stake in AVAST Software, makers of the world’s most popular antivirus software.

Boston based private equity and venture capital investment firm, Summit Partners today announced that it has invested $100 million for a minority stake in AVAST Software, makers of the world’s most popular antivirus software.

AVAST, with over 100 million users worldwide, utilizes a ‘freemium’ business model, which offers a full-fledged free product with a premium option.

Summit Partners

“After writing a program to remove the Vienna virus back in 1988, it was about six months before I saw another virus. Now our Virus Lab adds 3,000 new virus samples a day to its database,” said Mr. Baudis, AVAST Software virus guru. Security and data protection services firm Sophos, In the first half of 2010, claims to receive an average of 60,000 new malware samples every day, about 1 every 1.4 seconds.

AVAST Software

Scott Collins, a Managing Director of Summit Partners who will join the AVAST Software Board of Directors.

Summit Partners has made other notable investments in the security market including McAfee (to be acquired by Intel for $6.6b, Postini (acquired by Google), SafeBoot Holdings BV (acquired by McAfee), and Sybari Software (acquired by Microsoft).

Written By

Click to comment

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.

Register

SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.

Register

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.

Cybercrime

The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.

Cybercrime

A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...

CISO Strategy

SecurityWeek spoke with more than 300 cybersecurity experts to see what is bubbling beneath the surface, and examine how those evolving threats will present...

CISO Conversations

Joanna Burkey, CISO at HP, and Kevin Cross, CISO at Dell, discuss how the role of a CISO is different for a multinational corporation...

CISO Conversations

In this issue of CISO Conversations we talk to two CISOs about solving the CISO/CIO conflict by combining the roles under one person.

CISO Strategy

Security professionals understand the need for resilience in their company’s security posture, but often fail to build their own psychological resilience to stress.