Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software
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Aug 23rd, 2010 |
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Fresh off the heels of Intel acquiring security software vendor McAfee for $7.7 billion in cash , another household name in the industry, AVAST Software , has raised $100 million in private equity from investment firm Summit Partners . With the investment, Summit Partners has acquired a minority stake in the company, which markets its popular antivirus software based on a freemium model. AVAST Software CEO Vince Steckler says the combination of offering a free product alongside a premium one has disrupted the tradition antivirus software market, where vendors often rely on advertising or installation fees for revenues
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Summit Partners Pumps $100 Million Into Antivirus Software Maker AVAST Software