Security software maker AVG Technologies has acquired Israel’s DroidSecurity from its founders and investors for a reported $4.1 million with an earn-out up to $5.3 million, subject to performance milestones.
DroidSecurity offers products that aim to protect owners smartphones, tablets and other devices running on Google’s Android OS from viruses and malware. The company’s mobile security app for the Android platform, ANTIVIRUSFree, surpassed the 4.5 million download milestone last month and is a top-ranked app.
AVG says the acquisition enables its Mobile Solutions Team to extend the available security offerings for its more than 110 million users to include the expanding mobile security arena.
Upon completion of the transaction, which is subject to customary closing conditions and regulatory approvals, DroidSecurity will become a wholly-owned subsidiary of AVG and will continue to be headquartered in Tel Aviv, Israel. Its CEO and co-founder, Eran Pfeffer, will become the general manager of AVG’s Mobile Solutions Team.
According to Globes, DroidSecurity was partly owned by managers and employees, and partly by investor Maayan Ventures as well as a group of private backers led by Quantumwave Capital partner Shachar Efal.
DroidSecurity has created the first full-featured Android anti-malware application, called DroidSecurity Internet Security Suite. The company was founded in 2009 and is based in Tel Aviv, Israel. DroidSecurity Internet Security Suite ($4.99 USD) is a powerful, mature security application that provides a wide-range of protection against viruses/malware and SMS/text spam, plus enables users to track lost smartphones and remotely wipe data for enhanced security and control. The core platform was publicly beta-tested by Android users under the DroidHunter brand,...
AVG Technologies is a global leader in security software, protecting more than 110 million consumers and small business computer users in 167 countries. Headquartered in Amsterdam, AVG is the fourth largest vendor of anti-virus software and employs close to 500 people worldwide with corporate offices in the US, the UK, the Netherlands, the Czech Republic, and Germany. AVG has nearly two decades of experience in combating cyber crime and operates one of the worldâ€™s most advanced laboratories for detecting, pre-empting and...