LONDON, Dec. 7, 2020 /PRNewswire/ -- Investcorp
today announced that it has entered into a definitive agreement to
sell Avira (or the "Company") to NortonLifeLock (NASDAQ: NLOK), a
global leader in consumer Cyber Safety, for approximately US
$360 million. The transaction is
expected to close in Q1 2021, subject to regulatory approvals and
customary closing conditions.
Avira is a Germany-headquartered, global cybersecurity
software solutions firm serving the Consumer and OEM (Original
Equipment Manufacturer) end markets. Founded in 1986 by
Tjark Auerbach, Avira provides
customers with a comprehensive suite of software security
solutions, including anti-malware, threat intelligence and IoT
solutions to protect users' online identity, finances, and private
data.
Investcorp became Avira's first institutional investor when it
acquired the Company and has collaborated with Avira to drive
organic growth and materially increase EBITDA, while further
enhancing the Company's suite of cybersecurity offerings and
footprint through a strategic add-on acquisition. The sale of Avira
is the first exit from the US $400
million Investcorp Technology Partners Fund IV.
Gilbert Kamieniecky, Managing Director and Head of
Investcorp's Technology Private Equity business, said: "Our
investment in Avira is another great case study for how we are able
to leverage our expertise in European Tech to help founders to
strengthen and accelerate the growth of their businesses. We
believe this transaction reflects our ability to quickly execute an
ambitious organic and inorganic growth strategy alongside a
Company's management team. The opportunity to combine Avira with
NortonLifeLock was too compelling to ignore, for the organization
and we wish the company the best as it builds a strong European
footprint for the combined entity."
Travis Witteveen, Chief
Executive Officer of Avira added: "We are grateful to
Investcorp for the support they provided to accelerate Avira's
development and position us for this next chapter. NortonLifeLock's
vision to provide Cyber Safety for everyone directly aligns with
our belief that everyone has the right to enjoy life online safely,
securely and privately. With cyber threats continuing to grow
globally, we are excited to join forces with NortonLifeLock to
reach and protect more consumers around the globe."
Investcorp has established a market leading position of
investing in lower mid-market technology companies with a
successful track record in the Data / Analytics, IT Security and
Fintech / Payment sectors. Investcorp's other investments from its
latest technology fund include Ubisense's SmartSpace, the
enterprise software and sensor Real-Time Location Solutions
platform; softgarden, a Human Resources software provider; Calligo,
a proprietary cloud solution; Ageras, an online marketplace
matching SMEs with professional service providers; Impero, a
provider of online student safety and classroom and network
management software; and Contentserv, a product information
management solutions provider.
About Investcorp
Investcorp is a global investment manager, specializing in
alternative investments across private equity, real estate, credit,
absolute return strategies, GP stakes and infrastructure. Since our
inception in 1982, we have focused on generating attractive returns
for our clients while seeking to create sustainable long-term value
for our shareholders and communities as a prudent and responsible
investor with a commitment to sound Environmental, Social and
Governance (ESG) practices.
We invest a meaningful portion of our own capital in products we
offer to our clients, ensuring that our interests are aligned with
our stakeholders. We take pride in partnering with our clients to
deliver tailored solutions for their needs, utilizing a disciplined
investment process, employing world-class talent and combining the
resources of a global institution with an innovative,
entrepreneurial approach.
Investcorp has today a presence in 12 countries across the US,
Europe, GCC and Asia, including India, China
and Singapore. As of June 30, 2020, Investcorp Group had US
$32.2 billion in total AUM, including
assets managed by third party managers, with a diverse group of
approximately 450 employees from 44 nationalities globally across
its offices.
For further information, visit www.investcorp.com and
follow us @Investcorp
on LinkedIn, Twitter and Instagram.
About Avira
Avira provides a consumer-focused portfolio of security and
privacy solutions for Windows and Mac computers, Android and iOS
smartphones, home networks, and smart devices (IoT). All Avira
features are available as licensed SDKs and APIs. Working together,
Avira and its partners protect more than 30 million devices
globally. Avira solutions consistently achieve best-in-class
results from independent security tests.
Avira is a privately held company headquartered near Lake
Constance, Germany, with
additional offices in the EU, the United
States, and Asia. For more
information about Avira visit www.avira.com.
Media Contacts:
Investcorp
Matthew Gross
1
212-703-1245
mgross@investcorp.com
|
Prosek
Partners
Lindsay
Jablonski
1
646-818-9056
pro-investcorp@prosek.com
|
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SOURCE Investcorp