Welcome!

News Feed Item

AVG Solidifies Leadership in Growing Mobile Security Market with Acquisition of Location Labs

Location Labs adds industry relationships, mobile monetization and strategic technology to AVG's consumer offerings for devices, data, and people

AMSTERDAM and SAN FRANCISCO, Sept. 3, 2014 /PRNewswire/ -- AVG® Technologies N.V. (NYSE: AVG), the online security company™ for 182 million active users, today announced a definitive agreement to acquire privately-held Location Labs, a global leader that uses mobile technology to protect people. Location Labs has been recognized as an Inc. 500/5000 Fastest Growing Private Company for five consecutive years.

The acquisition brings AVG a proven innovative platform of personal security products for mobile devices and deep integration with global industry partners, including all four major mobile operators in the United States. Location Labs' integrated platform for mobile operators, pre-installed service on Android smartphones, and mobile subscription services including family, safety and personal device management, are all expected to complement and expand AVG's existing mobile offerings.

This acquisition significantly broadens AVG's position as the online security company by accelerating its mobile security business. With the acquisition and organic growth, AVG is creating a global business that should generate $60-70 million in mobile bookings in 2015, and anticipates this scaling to around $100 million in mobile bookings in 2016.

"Location Labs has effectively cracked the code for mobile monetization through its highly successful business model with industry partners. This acquisition significantly accelerates AVG's mobile strategy in this area," said Gary Kovacs, Chief Executive Officer, AVG Technologies. "According to industry estimates, the number of mobile-connected devices will exceed the world's population by the end of this year alone. The combined existing mobile user base of both companies gives us the unprecedented opportunity to deliver online security to approximately a quarter of a billion devices as we see more people go mobile to get online."

AVG's established mobile offerings include the popular AVG AntiVirus for Android™ app, the first security app to exceed 100 million downloads on Google Play™. With AVG Zen™, an application for Windows® PCs and Android™ smartphones and tablets that launched earlier this year, AVG is directly addressing the challenges consumers face today in retaining control over their privacy, protection, and performance in a world increasingly dominated by the Internet of Things. Combining the strengths of both product portfolios will create a comprehensive consumer mobile business that will help give customers a safer, simpler and more meaningful connected experience.

"Location Labs has differentiated itself through building a valued partnership model for mobile operators. Adding AVG's proven mobile products to our own services and products will significantly enhance the innovation and support we can provide to our partners and to additional markets worldwide," said Tasso Roumeliotis, Founder and Chief Executive Officer of Location Labs.

Following the close of the acquisition, Location Labs CEO, Tasso Roumeliotis, will continue to lead the Location Labs business.

Transaction Terms and Financials

  • Under the terms of the agreement, AVG will pay approximately $140 million initially, plus up to an additional approximately $80 million in cash consideration over the next two years based on the achievement of certain performance metrics and milestones.
  • AVG expects the transaction to be neutral to EPS in 2015.
  • The transaction is expected to close during the fourth quarter of 2014 and is subject to customary closing conditions, including AVG shareholder approval.
  • The transaction is subject to AVG shareholder approval at an Extraordinary General Meeting ("EGM") and AVG's Supervisory Board and Board of Management (the "AVG Boards") will convene the EGM today. The EGM will be held on 14 October 2014 at 09:30 a.m. CET, at the offices of Allen & Overy LLP, Apollolaan 15, 1077 AB Amsterdam in the Netherlands. The AVG Boards, taking into account the interests of shareholders and other stakeholders, have approved and recommended the transaction.
  • In connection with the transaction, AVG has obtained commitments for senior secured credit facilities in the amount of up to USD 300 million as described in a separate release issued today.

Conference Call Information

AVG will hold a conference call today at 14:30 CET/8:30 a.m. ET/5:30 a.m. PT to discuss the acquisition. The conference call may be accessed via webcast at http://investors.avg.com or by calling 888-523-1225 (U.S. and Canada) or +1 719-325-2428 (International) and entering Conference ID: 7152152#.

A replay of the webcast can be accessed via http://investors.avg.com. Additionally, an audio replay of the conference call will be available from Wednesday, September 3, 2014 at 8.30 AM PT until Wednesday, September 10, 2014 at 8.30 AM PT. To access, call 888-203-1112 (U.S. and Canada) or +1 647-436-0148 / +1 719-457-0820 (International) and enter Passcode: 7152152#.

AVG Technologies N.V. LOGO.

Logo - http://photos.prnewswire.com/prnh/20120306/SF65434LOGO

About AVG Technologies (NYSE: AVG)

AVG is the online security company providing leading software and services to secure devices, data and people. AVG has over 182 million active users, as of June 30, 2014, using AVG's products and services including Internet security, performance optimization, and personal privacy and identity protection. By choosing AVG's products, users become part of a trusted global community that engages directly with AVG to provide feedback and offer mutual support to other customers.

All trademarks are the property of their respective owners.

www.avg.com 

About Location Labs

Location Labs is the global pioneer in mobile security for humans. Our award-winning device management and location technologies protect more than just information on devices—we protect the people who carry them. By partnering with Tier 1 mobile operators such as AT&T, Sprint, T-Mobile, Telefonica and Verizon Wireless, our mobile services have been distributed to more than 50 million users and upwards of 1 million monthly paying subscribers. And all our technology is built on our Sparkle connected device platform, which combines smartphone capabilities with mobile network capabilities, for user experiences that cannot be replicated. Our mobile security services include Family Locator, Drive Safe and Account Analytics & Controls. Location Labs is headquartered in Emeryville, Calif, and operates in the US, Europe and India. Visit www.locationlabs.com.

Keep in touch with AVG

https://twitter.com/AVGfree
https://www.facebook.com/AVG
http://www.linkedin.com/company/avg
http://blogs.avg.com/
https://www.youtube.com/user/officialAVG

SOURCE AVG Technologies

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
They say multi-cloud is coming, but organizations are leveraging multiple clouds already. According to a study by 451 Research, only 21% of organizations were using a single cloud. If you've found yourself unprepared for the barrage of cloud services introduced in your organization, you will need to change your approach to engaging with the business and engaging with vendors. Look at technologies that are on the way and work with the internal players involved to have a plan in place when the ine...
"We began as LinuxAcademy.com about five years ago as a very small outfit. Since then we've transitioned into more of a DevOps training company - the technologies and the tooling around DevOps," explained Doug Vanderweide, an instructor at Linux Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes how...
CloudEXPO New York 2018, colocated with DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DevOps with IBMz? You heard right. Maybe you're wondering what a developer can do to speed up the entire development cycle--coding, testing, source code management, and deployment-? In this session you will learn about how to integrate z application assets into a DevOps pipeline using familiar tools like Jenkins and UrbanCode Deploy, plus z/OSMF workflows, all of which can increase deployment speeds while simultaneously improving reliability. You will also learn how to provision mainframe syste...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time t...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term.
The technologies behind big data and cloud computing are converging quickly, offering businesses new capabilities for fast, easy, wide-ranging access to data. However, to capitalize on the cost-efficiencies and time-to-value opportunities of analytics in the cloud, big data and cloud technologies must be integrated and managed properly. Pythian's Director of Big Data and Data Science, Danil Zburivsky will explore: The main technology components and best practices being deployed to take advantage...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Contextual Analytics of various threat data provides a deeper understanding of a given threat and enables identification of unknown threat vectors. In his session at @ThingsExpo, David Dufour, Head of Security Architecture, IoT, Webroot, Inc., discussed how through the use of Big Data analytics and deep data correlation across different threat types, it is possible to gain a better understanding of where, how and to what level of danger a malicious actor poses to an organization, and to determin...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Digital transformation has increased the pace of business creating a productivity divide between the technology haves and have nots. Managing financial information on spreadsheets and piecing together insight from numerous disconnected systems is no longer an option. Rapid market changes and aggressive competition are motivating business leaders to reevaluate legacy technology investments in search of modern technologies to achieve greater agility, reduced costs and organizational efficiencies. ...
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...