Intel Capital to Acquire $16M Stake in Grisoft
PRAGUE, Czech Republic, Sep 06, 2005 (BUSINESS WIRE) -- Intel Capital, Intel Corporation's venture investment program, today announced the signing of an agreement to acquire a $16M stake in Grisoft, one of the leading providers of anti-virus security software. The investment is subject to approval by the competition council of the Czech Republic.
A global provider of security software solutions, Grisoft products are now used on more than 25 million computers. Distributed through resellers and through the Internet, Grisoft's product line supports all major operating systems and platforms.
"By acquiring shares in Grisoft, Intel Capital is supporting the development of anti-virus software development and deployment around the globe," said Intel Capital President Arvind Sodhani. "Under the terms of the strategic cooperation agreement with Grisoft, Intel will work to help Grisoft improve security on computing platforms for small businesses and consumers."
Pursuant to the terms of the cooperation agreement, Intel Capital will also help Grisoft to reach new customers and market segments as well as optimize their security software.
This would be Intel Capital's largest equity investment in Central and Eastern Europe. "Intel Capital is a global investor committed to investing in innovative technology companies throughout Europe and beyond," said Sodhani.
"Grisoft has grown rapidly from a provider of anti-virus software in the Czech Republic to a major, global player," said Grisoft Chairman Gabriel Eichler. "Its AVG software, now including firewall, protects 25 million computers worldwide. The growing need for computer security and its increasing complexity combined with a highly positive response of our users, testers and reviewers lead us to anticipate the company will continue on the path to becoming the global leader within its market segment. We felt that it was the appropriate time to bring in value-added investors to help capture Grisoft's future prospects."
Grisoft has offices in Brno, Czech Republic and in the United States. For more information, visit www.grisoft.com.
No more freebie AVG anti virus software support:(
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