AVAST Software, a software maker best known for its free antivirus offerings, announced on Feb. 5 that it has received an investment from CVC Capital Partners that valued the software company at $1 billion.
Founded in 1988, AVAST says that its software protects nearly 170 million PCs in 40 languages. The company said that its Android security products are installed on roughly 40 million devices.
The company previously received a $100 million investment from Boston-based private equity and venture capital investment firm, Summit Partners, in August 2010.
Summit remains a shareholder in the company alongside AVAST founders, Eduard Kučera and Pavel Baudiš.
The company said it would use the investment to help expand its presence in the United States and grow its mobile security offerings.
In addition to providing antivirus and mobile security software, AVAST products include, cloud backup solutions, VPN services, and other system utilities.
The completion of the transaction is expected in March 2014, the company said.