Security software maker AVG Technologies is reportedly being courted by suitors for a potential acquisition. Among those interested are private-equity firms and at least one other technology company according to people familiar with the matter as reported by The Wall Street Journal.
The discussions are said to be in early stages with no formal sale on the tablet just yet although if a deal does get hammered out, it would likely surface in the coming months.
The Amsterdam-based security company, who employs roughly 1,000 people from all over the world, was founded in 1991 and only went public in 2012.
AVG says more than 187 million people use its software which helps users defend against viruses, spam and identity theft on traditional computers as well as mobile devices running Android, iOS and Windows Phone. The company offers free solutions in addition to paid protection.
Shares are up over 12 percent on the rumor which is good news considering it recently reported a 7.8 percent year-over-year drop in revenue to $92.3 million for the third quarter. The company has a market capitalization of more than $940 million as of writing.
As the publication correctly points out, security software companies are a hot commodity among tech investors. If you recall, Intel paid a fortune - $7.68 billion, to be exact – for rival McAfee a few years back. AVG has a quality reputation and solid brand recognition, attributes the company can likely use to negotiate a favorable sum when it comes time to talk money.
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