CVC-backed Avast to buy AVG Tech for $1.3 bln
Avast Software, which is backed by CVC Capital Partners, has agreed to buy AVG Technologies NV for $25 a share or $1.3 billion. AVG develops business, mobile and PC device security software applications. Avast is investing $150 million equity. TA Associates owns a minority stake in AVG. Avast has received a financing commitment of $1.685 billion from Credit Suisse Securities, Jefferies and UBS Investment Bank. Jefferies International Ltd is acting as exclusive financial advisor, and White & Case LLP and De Brauw Blackstone Westbroek NV are acting as legal advisors, to Avast. Morgan Stanley & Co LLC advising AVG while Bridge Street Securities LLC is acting as independent financial advisor to the supervisory board of AVG. Orrick, Herrington & Sutcliffe LLP and Allen & Overy LLP are acting as legal advisors to AVG.
