AVG buy for $ 220 million in cash and incentives on results the California-based Location Labs who specializes in the security of mobile devices.
Listed on the New York Stock Exchange with 182 million active users for its security solutions, the European provider AVG Technologies (Originally from Czech and based in Amsterdam) consolidates its offer to protect mobile devices by buying a specialist: Location Labs.
Announced at $140 million in cash with contingent consideration of $80 million over the next two years based on the achievement of certain objectives, the transaction is subject to AVG shareholder approval. An general meeting will be held on October 14 before a likely finalized in the next quarter, with this transaction which will, according to AVG, a neutral impact in terms of earnings per share.
Based in Emeryville, California, Location Labs currently employs 220 people. Its founder and CEO Tasso Roumeliotis, is a former worker at the private canadian fund Claridge, which manages a diversified portfolio among food industry, real estate, entertainment, renewable energy and technology.