AVG Technologies Files For $125 Million Initial Offer

AVG Technologies, an Amsterdam-based security software company, has filed with the SEC for a $125 million initial public offering.
The company reports that it has 106 million users for its software, which includes Internet security, PC performance optimization, online backup, mobile security, identity protection and family safety software.
For the 9 months ended September 30, the company had revenue of $198.1 million, up from $159.8 million in the comparable period a year ago. Net income available to ordinary shareholders was $66.8 million for the period, up from $31.8 million in the same period a year ago.
The largest investors in the company include PEF V Information Technology 2, an affiliate of Polish Enterprise Fund, with a 33.8% stake; Grisoft Holdings, with 19.4%, Intel Capital with 15.4%; and an affiliate of TA Associates, with 31.8%.

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