Enterprise Investors finalizes exit from AVG Technologies

AVG Technologies is a leading provider of software and online services to approximately 187 million active users worldwide.
The company’s software solutions range from desktop, laptop and mobile security software to dynamic secure internet search solutions. AVG offers a product portfolio that targets the consumer and small business markets. AVG’s business model drives scalable growth, robust operating margins and strong cash flow generation, as proven by the company’s strong financial standing. In 2013 AVG achieved more than USD 407 million in revenue, a 14% increase on the USD 356 million generated in 2012. Net income for fiscal year 2013 was USD 63.7 million.

PEF V invested in AVG (then Grisoft) in September 2005. After the acquisition a new management was introduced, with aim to facilitate transformation from a regional player into a global market leader. The investment also enabled the company to develop new competences and products through add-on acquisitions. In October 2009 the fund sold a minority stake to TA Associates, an American private equity firm. AVG Technologies grew dynamically and in February 2012 completed an IPO on the New York Stock Exchange, at which point PEF V conducted another partial exit. Since EI’s investment the company reported a 7.5x increase in number of users. The market cap of the company increased 11.5x to USD 919 million.

Enterprise Investors is one of the largest private equity and venture capital firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. These funds have invested EUR 1.6 billion in 132 companies across a range of sectors and exited 106 companies with total gross proceeds of almost EUR 2.2 billion.

For further information please contact:
Enterprise Investors:
Anna Czywczyńska, PR Consultant
tel.: +48 22 458 8500