CVC in $1bn Avast deal

The investment will underpin the company's reach in the mobile security space and its expansion in the US and Asia. 

Credit Suisse, UBS and Jefferies provided financing to support the company, including further resources for investments and acquisitions. 

Summit Partners committed $100m to Avast in 2010 to enable the company to continue offering its free security software, according to unquote" data. The GP remains a shareholder alongside the firm's founders Pavel Baudiš and Eduard Kučera.

Company
Founded 25 years ago and based in Prague, Avast develops antivirus software for computers and mobile devices. The firm produces free antivirus solutions for PC, Mac and Android as well as premium services for consumers and businesses.  

Avast counts more than 200 million users in 40 languages and protects almost 170 million PCs. The company's Android product protects nearly 40 million devices. Further products includes a secure virtual environment for online transactions, a password storage facility, a cloud back-up facility and a service to secure public wifi and ensure anonymous browsing. 

People
Lorne Somerville is a partner and head of technology, media and telecommunications (TMT) at CVC Capital Partners. Siddharth Patel is managing director of TMT at CVC. Scott Collins is a managing director at Summit Partners. 

Advisers
Equity – Jefferies International (Corporate finance). 

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