Avira has been snapped up by Investcorp Technology Partners,its PE division of Investment Bank in Bahrain,media outlet TechCrunch reported. The Bahrain Investment Bank’s plan is to help Avira implement a larger security acquisition consolidation.
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The financial terms of the acquisition were not disclosed in the joint announcement, but Avira CEO Travis Witteveen and ITP’s MD Gilbert Kamienecky both said that gave Avira a total valuation of $180 million. Kamieniecky added that after the deal, it was owned by ITP, and That Avira founder Tjark Auerbach would retain an “important” stake in the company.
Avira is not a technology start-up in the traditional sense. Founded in 1986, it has always been a self-financing settlement and never seems to have received any outside investments as he grew up. Today, Witteveen says, the company’s products have “tens of millions” of users, and its anti-virus software has been resold by companies such as Facebook (as part of its now dormant anti-virus market), while more users are trading with big companies. Today’s strategic partners include NTT, Deutsche Telekom, IBM, Canonical, etc.
“We want a partnership where someone can step in and support our organic growth and the opportunity to buy,” Witteveen said. “The company’s plan will be to make more acquisitions to expand Avira’s reach, including its products, and in particular its geographic reach: it currently has fewer operations in Asia, Europe and the US, while Investcorp’s presence is also deep in the Middle East.”