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There were Avast or AVG installations on 160 million mobile devices and 240 million desktop computers. The combined entity became the world's largest antivirus company, with an estimated 20% of the market. By this time, AVG had 600 employees, $155 million in annual revenue, and 95 million users. AVG was acquired by Avast for $1.3 billion in July 2016. In 2014, AVG announced the acquisition of Location Labs, a cybersecurity company focused on mobile devices, for an estimated $220 million.
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He led the effort to create a simple one-page privacy policy that discloses what data the company collects from users and what information about free users it sells to advertisers. Additionally, former Mozilla CEO Gary Kovacs was appointed CEO of AVG. ĪVG Technologies filed an initial public offering in February 2012.
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This was followed by the acquisition of mobile security startup DroidSecurity and iMedix Web Technologies in 2011 parental control software company Bsecure in 2012, and remote monitoring company Level Platforms in 2013. In 2009, AVG announced the acquisition of Sana Security, which analyzes software behavior. Grisoft bought spyware company Ewido Networks in 2006 and browser security company Exploit Prevention Labs in 2007.
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The investments were used to fund a series of acquisitions. The firm then sold a 65 percent interest in Grisoft to Intel Capital and Enterprise Investors for $52 million in 2005. In 2001, Grisoft was sold to a venture capital firm Benson Oak Capital. TA Associates invested an additional $200 million into the company that year for a minority stake in the business. In 2008, Grisoft changed the name of its parent company to AVG, the name already used for its software and for its American subsidiary. It started marketing software directly to consumers in 2006. For a time, the company was focused on bulk sales of antivirus software to computer manufacturers that sold PCs with Grisoft's software pre-installed.
Grisoft also expanded to the United Kingdom, the Netherlands, Germany, and other countries. Grisoft later expanded to the US market, creating an American company called AVG. Grisoft grew as the country loosened its international trade policies, so it could exchange technology with companies in Europe. Initially, Grisoft sold IT equipment and third-party software, in addition to its own antivirus product.
At the time, Czechoslovakia was starting to transition from communism to capitalism.
AVG Technologies was founded by Tomáš Hofer and Jan Gritzbach in 1990 under the name Grisoft in Brno, Czechoslovakia.
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