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Kaspersky Lab 2011 Revenue Tops $612 Million, But No IPO in Sight

CANCUN, MEXICO -- Kaspersky Lab Cyber Conference 2012 – Kaspersky Lab, the Russian security software company co-founded in 1997 by Eugene Kaspersky revealed some of its 2011 financial details at its Cyber Conference that took place this week in Cancun, Mexico.

According to numbers released by the company, revenue topped $612 million in 2011, up 14 percent, but down from a growth rate of 38 percent in 2010. At the conference, Garry Kondakov, Chief Sales and Marketing Officer, said the company was profitable but declined to provide figures, humorously reminding the audience that the company was private.

Eugene Kaspersky

“2011 has been extremely challenging for the entire IT security industry. Despite tackling an ever-growing array of complex new threats in difficult market conditions, Kaspersky Lab has successfully achieved significant sales growth,” said Eugene Kaspersky, Chairman and CEO of Kaspersky Lab. (Right)

Not long ago the fast growing security software company was marked as top prospect for an IPO, but this is not the case anymore. The company recently said that it intends to stay private, and said that it has bought back a stake held by private equity firm General Atlantic. In January 2011, General Atlantic reportedly paid $200 million to acquire a 20 percent of Kaspersky Lab in a deal valuing the company at $1 billion.

In speaking and interacting with Kaspersky Lab employees from around the world, it’s clear that company culture is key to charismatic Eugene Kaspersky. Kaspersky has built up a loyal employee base of over 2,400 employees around the world with offices in 29 countries.

Kaspersky Lab Revenue

The company, most well known for its consumer focused anti-virus products, has expanded its portfolio of mobile and business security solutions, and is also expected to launch a solution to protect virtual environments as early as next week.

“We will continue to focus on our strategy of differentiation through technology and innovation in the next years and concentrate on our core competence, endpoint protection and security”, says Petr Merkulov, Chief Product Officer. “In 2012 Kaspersky Lab will launch a range of new and exciting products in both the consumer and the corporate area which will highlight our user centric and Endpoint Protection Platform approach.”

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For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.