AMSTERDAM, May 6, 2015 /PRNewswire/ -- AVG®
Technologies N.V. (NYSE: AVG), the online security company™ for
more than 200 million monthly active users, today announced the
acquisition of Privax, a leading global provider of desktop and
mobile privacy services for consumers. With the acquisition, AVG
will add Privax's HMA! Pro VPN to its existing portfolio of
security software and services that will be immediately made
available to AVG's global customer base.
Privax has more than 250,000 paying subscribers worldwide using
its VPN encryption service, while its popular free web-based
browser proxy service regularly attracts a global audience of over
eight million unique visitors per month. The acquisition of Privax
further strengthens AVG's expanding mobile security offerings by
providing a proven, privacy subscription service that is available
immediately and will also be integrated into future AVG products
including AVG Zen.
"Privacy is the new currency of the digital era, particularly as
the Internet population is expected to double over the next five
years," said Gary Kovacs, Chief
Executive Officer, AVG Technologies. "As we connect through more
and more devices, our privacy is becoming increasingly violated. At
AVG, we fundamentally believe that it is a user's choice of how and
when to share their private information. With this acquisition, we
will immediately be able to provide new and innovative privacy and
security services to hundreds of millions of users world-wide."
Privax leading solutions will continue to be made available
directly from Privax and additionally with our proven track record
we will distribute through AVG's consumer and SMB channels.
"Our mission at HMA! has always been to be the go-to tool for
anyone who wants to surf the web freely, privately and securely.
I'm incredibly proud that our service has done just that, and has
been used by tens of millions of people all over the world," said
Jack Cator, Founder and Chief
Executive Officer, Privax. "We are thrilled to be teaming up with
AVG Technologies to help us accelerate our ambition to be the
biggest and best privacy company in the world."
Under the terms of the agreement, AVG paid $40 million and will pay up to an additional
$20 million in cash consideration one
year after closing based on the achievement of certain performance
metrics and milestones. AVG will present additional financial
details at the upcoming Analyst day at the NYSE on May 12th.
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About AVG Technologies (NYSE: AVG)
AVG is the online security company providing leading software
and services to secure devices, data and people. AVG's award
winning technology is delivered to over 200 million
monthly active users world-wide. AVG's Consumer portfolio
includes internet security, performance optimization, and personal
privacy and identity protection for mobile devices and desktops.
The AVG Business portfolio - delivered by managed service
providers, VARs and resellers - offers IT administration, control
and reporting, integrated security, and mobile device management
that simplify and protect businesses.
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SOURCE AVG Technologies N.V.