Intel Capital, Intel Corporation's venture investment program, 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 Arvind.
"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.
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