Press Release

White & Case Advises Avast on US$1.3 Billion Acquisition of AVG

Global law firm White & Case LLP has advised Avast Software, one of the world's major players in the security software market, on its agreement to acquire New York Stock Exchange-listed AVG Technologies N.V., a developer of business, mobile and PC device security software applications, for a total consideration of US$1.3 billion.

"White & Case has forged a close relationship with Avast in recent years by advising on a number of key transactions, including the initial private equity investment by Summit Partners in 2010 and the minority investment by CVC Capital Partners in 2014," said White & Case partner Ian Bagshaw, who led the Firm's deal team. "Advising on this exciting acquisition is another milestone in our long relationship with the company, and a clear demonstration of the truly global nature of the integrated service White & Case provides to help clients achieve their ambitions."

White & Case also advised Avast and CVC on a new debt financing from Credit Suisse, Jefferies and UBS Investment Bank in relation to the AVG acquisition that consists of revolving and term loan credit facilities.

Avast will acquire all the outstanding ordinary shares in AVG at US$25 per share. The acquisition will allow Avast, which is headquartered in Prague, Czech Republic and has offices in the USA, Germany, China, South Korea and Taiwan, to better serve growing industry segments with innovative technology and realise additional value through current AVG product offerings. The combined company will have an expanded geographic platform and an increased ability to reach emerging growth channels through a more efficient organisation.

The White & Case team which advised on the transaction was led by partner Ian Bagshaw (London) and included partners Caroline Sherrell, Justin Wagstaff, Lindsey Canning (all London), Mark Powell (Brussels), Chang-Do Gong (New York), Farhad Jalinous and Rebecca Farrington (both Washington, DC), with support from local partner Katarzyna Czapracka (Brussels), counsel Karalyn Mildorf (Washington, DC) and associates Nofa Khadduri, Barry O’Driscoll, Jarlath McGurran,  Ash von Schwan (all London), Suni Sreepada, Graham Silnicki (both New York) and Tamer Mahmoud (Washington, DC).

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