Investcorp, the Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, acquired German cybersecurity company Avira for US$180 million.
Avira provides software for protection against viruses, malware, ransomware, and other threats. Its customers include major manufacturers as well as consumers.
“Avira represents an attractive opportunity to invest in a cybersecurity business and marks our third investment in the DACH (Germany, Austria and Switzerland) tech sector in the last 18 months,” said Gilbert Kamieniecky, managing director and head of Investcorp’s technology private equity business.
“With our long history of working with cybersecurity, IoT and data-driven businesses, Investcorp is looking forward to supporting Avira’s targeted growth trajectory and expansion plans.”
The acquisition by Investcorp represents the first institutional investment in Avira since it was founded in 1986 by Tjark Auerbach, according to a statement by Investcorp on Thursday, April 9.
“We are proud to be partnering with a firm that offers such a breadth of experience working with growing technology and software firms,” Travis Witteveen, chief executive of Avira said. “The investment confirms our business strategy and enables us to further accelerate our profitable growth in the consumer and OEM (Original Equipment Manufacturer) market segments.”
Full Content: Tech Crunch
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