Avast

In March 2014, CVC Fund V acquired a major stake in Avast from the Founders of the business and Summit Partners which valued the company at US$1 billion. The transaction was sourced and led on a fully proprietary basis by CVC.

Avast is the leading consumer cybersecurity company, protecting hundreds of millions of people all over the world from the ever increasing number of threats to their privacy and security online.

As a global EU tech company headquartered in the Czech Republic, Avast has industry-leading margins through unique technology and a highly efficient, low cost infrastructure and has grown sales, earnings and cash flow rapidly by promoting a global sales model of providing award winning, highly-rated software free to users whilst adding extra functionality if they pay a basic annual subscription (a "Freemium" business model). In addition, it generates revenue from the distribution of complementary software to its user base.

Avast is the undisputed global leader in consumer cybersecurity and a pacesetter in mobile and IoT security. CVC has given us the resources that have allowed us to develop a large and scalable next-gen threat detection network based on artificial intelligence and machine learning protecting people around the world from the threats of today and tomorrow.

Vincent Steckler, CEO

Date of investment

March 2014

Fund

Fund V

Business

Cyber Security

Country

Czech Republic

Turnover

US$780 million

Number of employees

1,700

CEO

Vincent Steckler

Company website

avast.com