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Polish Enterprise Investors sells remaining stake in software developer AVG Technologies [IntelliNews - Weekly Reports](IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Polish Enterprise Fund V, a private equity fund administered by Enterprise Investors (EI), has sold its remaining stake in software developer AVG Technologies in a series of transactions on the New York Stock Exchange (NYSE), Prague Post reported. Amsterdam-based AVG Technologies was set up by Czechs Tomas Hofer and Jan Gritzbach under the name Grisoft in 1991. In 2008 it changed its name to AVG Technologies and now is owned by private equity companies and its headquarters is based in Amsterdam. AVG shares trade on the New York Stock Exchange. The company has offices in the Czech Republic, UK, US, Germany, France, Cyprus, Israel, China and Hong Kong. AVG group has over 180mn clients worldwide. Enterprise Investors is one of CEE's leading private equity and venture capital firm. Since its establishment in 1990, the firm has raised eight funds with combined of EUR 2bn. Enterprise Investors' exit from AVG Technologies comes days after the software developer said it agreed to buy US-based Location Labs, a global pioneer in mobile security for humans, in a deal potentially valued at USD 220mn. (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info). |