- Apr 24, 2013
- 1,200
AVG Technologies NV agreed to acquire privately held Location Labs in a deal that is potentially valued at $220 million and expected to broaden its offerings of security products for mobile devices.
Under the deal, expected to close during the fourth quarter, online security company AVG will make an upfront payment of about $140 million and another $80 million in milestone-based payments over the next two years.
AVG, which launched as a publicly traded company in February 2012, sells Internet security, personal-computer performance optimization and online backup products, as well as products for mobile devices.
Location Labs has a platform of personal security products for mobile devices and industry partnerships, including all four major mobile operators in U.S. The company's platform for mobile operators, pre-installed service on Android smartphones, and mobile subscription services are expected to complement and expand AVG's mobile offerings.
Location Labs Chief Executive Tasso Roumeliotis will continue to lead the Location Labs business.
AVG expects the acquisition will be neutral to its per-share earnings next year.
Under the deal, expected to close during the fourth quarter, online security company AVG will make an upfront payment of about $140 million and another $80 million in milestone-based payments over the next two years.
AVG, which launched as a publicly traded company in February 2012, sells Internet security, personal-computer performance optimization and online backup products, as well as products for mobile devices.
Location Labs has a platform of personal security products for mobile devices and industry partnerships, including all four major mobile operators in U.S. The company's platform for mobile operators, pre-installed service on Android smartphones, and mobile subscription services are expected to complement and expand AVG's mobile offerings.
Location Labs Chief Executive Tasso Roumeliotis will continue to lead the Location Labs business.
AVG expects the acquisition will be neutral to its per-share earnings next year.
