The Avira IT security company was acquired by Investcorp Technology Partners, the PE division of Investcorp Bank, for a value of USD 180 million.
The Investcorp plan is to help Avira achieve acquisitions in a broader cybersecurity consolidation strategy.
The financial terms of the acquisition were not disclosed in the joint announcement of the companies, but the Avira CEO, Travis Witteveen and the Managing Director of ITP, Gilbert Kamieniecky, both reported a total valuation The agreement provides that ITP will assume the majority of the company, with the founder of Avira Tjark Auerbach who will maintain a significant stake in the company in the agreement, added Kamienicky.
The company had many strategic approaches for an acquisition by companies operating in the IT sector, and also by investors, but none of them had convinced until now, since Avira wanted to grow as its own business. Therefore, it was necessary to inject the money to do so, and ITP proved to be the right partner.
The plan will be to make more acquisitions to expand Avira’s activity, both in terms of products and above all to increase its geographical presence: today the company is active in Asia, Europe and to a lesser extent in the United States, while Investcorp has a business that is
In the meantime, cybersecurity can never go out of fashion as investment opportunities and growth in technology.
Not only have cyber threats become more sophisticated, omnipresent and targeted to individual consumers and businesses in recent years, but our growing dependence on Internet-related technology and systems will increase demand and need to keep them safe from harmful attacks.