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Summit Partners has invested $100m growth capital for a minority stake in Czech software vendor avast!
vast! offers free antivirus software as a complete computer security application. The software is estimated to protect about 100 million computers globally, primarily from malware.
The avast! software was first developed by the company's co-founders Eduard Kucera and Pavel Baudis, who wrote a programme to remove the Vienna virus in 1988. The duo then moved on to launch avast! as a free antivirus in 2000.
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Cornerstone investors in Spanish private equity firm Gala Capital have pulled out of further commitments, according to reports in the Spanish press.
Cavendish Corporate Finance has promoted directors Andrew Jeffs and Michael Jewell to partners.
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The private equity majority owners of listed Danish phone company TDC are reportedly looking to sell their stakes.
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