Buenos Aires, Argentina, 30 de septiembre de 2016 – Avast Software, creador líder en productos digitales de seguridad para empresas y consumidores, anunció hoy que ha adquirido una participación accionista mayoritaria en AVG Technologies después de finalizar del período de oferta pública inicial, previamente anunciada para todas las acciones ordinarias de AVG Technologies N. V. (NYSE: AVG). Por lo tanto, a partir del lunes 3 de octubre de 2016, funcionarán como una sola empresa.
Vince Steckler, nombrado Chief Executive Officer de la nueva Avast, supervisa más de $700 millones en ingresos para el 2016 de la nueva entidad combinada recientemente. Avast se ha transformado en una empresa de seguridad de servicio completo, con la mayor base de consumidores en el mundo y con importantes negocios de Mobile para empresas y PyMEs. Luego de la finalización de la oferta pública, Gary Kovacs, CEO de AVG, salió oficialmente de la empresa pero estará disponible para consultoría durante la transición.
"La empresa combinada supera los 400 millones de usuarios, más del 40% de los usuarios de PCs fuera de China y cuenta con la mayor base instalada de los consumidores de seguridad en el mundo. Si fuéramos un país, tendríamos la tercera población más grande en el mundo", dijo Vince Steckler, Chief Executive Officer de Avast. "Estados Unidos es ahora nuestro principal mercado con 58 millones de usuarios. Tenemos un alcance realmente global y estamos orgullosos de ser la alternativa de seguridad más popular en el mundo".
"Ahora tenemos la amplitud técnica para proveer una protección superior a nuestros clientes. Por ejemplo, nuestros laboratorios de amenazas tendrán equipos dedicados a las amenazas emergentes que afecten a los consumidores. Éstas incluyen amenazas de ingeniería social, las que son comúnmente para atacar dispositivos conectados al Internet de las Cosas (IoT) y para ransomware, que combatimos con en las cuales estamos combatiendo con tecnología de aprendizaje automático”.
Con la adquisición de AVG, el nuevo Avast tiene una mayor protección para sus clientes. Avast ahora:
Con la adquisición, Avast amplía su negocio a las PyMEs y agrega una fuerte base de revendedores de AVG, permitiendo a Avast brindar soporte a organizaciones más grandes. Avast también obtiene la empresa Location Labs y sus operaciones, en las cuales Avast planea invertir para expandir en el extranjero. Debido a la infraestructura cerrada de los sistemas operativos móviles, la seguridad móvil y la tecnología de protección de privacidad son más fuertes cuando están incrustadas en la infraestructura del operador. La tecnología de Location Labs proporciona esencialmente una solución basada en la nube a los clientes, sin pasar por las ineficiencias e inseguridades del funcionamiento dentro de un sistema operativo móvil.
Avast planea crear más y mejores productos para defender a los usuarios del creciente número de amenazas en el mercado. La compañía seguirá ofreciendo los productos de AVG y Avast en el futuro cercano, y ofrecerá soporte a todos los clientes y socios de ambas líneas de productos.
"Queremos que nuestros clientes tengan la tranquilidad de que, sea que usen un producto de AVG o de Avast, seguirán recibiendo soporte. No somos nada sin nuestros clientes y socios que nos han traído hasta donde estamos hoy", dijo Vince Steckler.
Como resultado de la adquisición, Avast retiene aproximadamente 87,3% de las acciones de AVG adquiridas luego del cierre del período de oferta inicial. Avast también anunció que ha iniciado un período de oferta subsiguiente para los accionistas de AVG que todavía no han aportado sus acciones, para que tengan la oportunidad de hacerlo. Está previsto que el período de la oferta subsiguiente se expire a las 23:59 horas de Nueva York, del 14 de octubre de 2016. Como se describe abajo, Avast planea dejar de cotizar voluntariamente las acciones de AVG´s de la Bolsa de Valores de Nueva York inmediatamente después del período de oferta subsiguiente.
The Transaction
On July 29, 2016, Avast Software B.V. and its parent company, Avast Holding B.V., commenced a tender offer to acquire all of the outstanding ordinary shares of AVG Technologies N.V. at a purchase price of $25.00 per share in cash, without interest and less applicable withholding taxes or other taxes. The initial offering period for the tender offer and withdrawal rights expired at 11:59 p.m., New York City time, on September 29, 2016. Based on information provided by the depositary for the offer, a total of 44,543,555 shares, representing approximately 87.3% of the aggregate number of shares outstanding, had been validly tendered and had not been properly withdrawn as of the initial expiration of the offer (excluding 2,809,498 shares, representing approximately 5.5% of the aggregate number of shares outstanding, tendered pursuant to guaranteed delivery procedures that have not yet been delivered in settlement or satisfaction of such guarantee). Avast Software B.V. and Avast Holding B.V. have accepted for payment all shares that were validly tendered and were not properly withdrawn from the offer, and payment for such shares will be made promptly in accordance with the terms of the offer.
Avast Software B.V. and Avast Holding B.V. also announced today the commencement of a subsequent offering period scheduled to expire at 11:59 p.m., New York City time, on October 14, 2016. Avast may extend the subsequent offering period to provide for a minority exit offering period of up to 10 business days to provide AVG shareholders who have not yet tendered their shares the opportunity to do so. All shares validly tendered during the subsequent offering period will be immediately accepted for payment, and tendering holders will thereafter promptly be paid the same form and amount of offer consideration as in the initial offering period. The procedures for tendering shares during the subsequent offering period are the same as those applicable to the initial offering period, except that (i) the guaranteed delivery procedures may not be used during the subsequent offering period and (ii) no withdrawal rights will apply to shares tendered during the subsequent offering period.
As more fully described in the offer to purchase, if the number of shares purchased during the subsequent offering period (including, if applicable, the minority exit offering period), together with the shares purchased during the initial offering period, is equal to at least 95% of the outstanding ordinary shares of AVG, Avast expects to acquire the ordinary shares of AVG that were not tendered into the tender offer through the compulsory share acquisition process under Section 2:92a/2:201a of the Dutch Civil Code. If the number of shares purchased during the subsequent offering period (including, if applicable, the minority exit offering period), together with the shares purchased during the initial offering period, is less than 95% of the outstanding ordinary shares of AVG, Avast plans to effect an asset sale pursuant to which Avast will acquire substantially all of the assets, and assume substantially all of the liabilities, of AVG promptly following the tender offer. Following the completion of the asset sale, AVG will be liquidated and the remaining minority shareholders of AVG will receive cash distributions with respect to each ordinary share owned by them equal to the per share cash consideration paid in the tender offer less any applicable dividend withholding tax or any other taxes.
As soon as practicable following the completion of the subsequent offering period (including, if applicable, the minority exit offering period), AVG intends to voluntarily delist its shares from the New York Stock Exchange. AVG also intends to deregister its shares under the U.S. Securities Exchange Act of 1934 (as amended, the “Exchange Act”) and to suspend its reporting obligations under the Exchange Act, but will only be eligible to do so upon satisfaction of the applicable requirements for deregistration.
AVG has submitted written notice to the New York Stock Exchange of its intent to voluntarily delist its shares from the New York Stock Exchange in connection with the tender offer. AVG intends to file a Form 25, Notification of Removal from Listing and/or Registration under Section 12(b) of the Exchange Act, with the U.S. Securities and Exchange Commission to delist its shares promptly following the subsequent offering period. Delisting from the NYSE is expected to become effective 10 days after the filing date of the Form 25.
The AVG shares will not be listed or registered on another national securities exchange. Delisting is likely to reduce significantly the liquidity and marketability of any AVG shares that have not been tendered pursuant to the tender offer.
Advisors
Jefferies International Limited is acting as exclusive financial advisor, and White & Case LLP and De Brauw Blackstone Westbroek N.V. are acting as legal advisors to Avast. Morgan Stanley & Co. LLC is acting as financial advisor to AVG, Bridge Street Securities, LLC is acting as financial advisor to the supervisory board of AVG, and Orrick, Herrington & Sutcliffe LLP and Allen & Overy LLP are acting as legal advisors to AVG.
About Avast
Avast Software (www.avast.com), the global leader in digital security products for consumers and businesses, protects over 400 million people online. Avast offers products under the Avast and AVG brands, that protect people from threats on the internet with one of the most advanced threat detection networks in the world. Avast digital security products for Mobile, PC or Mac are top-ranked and certified by VB100, AV-Comparatives, AV-Test, OPSWAT, ICSA Labs, West Coast Labs and others. Avast is backed by leading global private equity firms CVC Capital Partners and Summit Partners.
Forward-Looking Statements
This press release contains forward-looking information that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of the federal securities laws, and involve a number of risks and uncertainties. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “are confident that,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “would” or the negative of these terms or other comparable terms. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include risks and uncertainties related to, among other things: general economic conditions and conditions affecting the industries in which Avast and AVG operate; the uncertainty of regulatory approvals; AVG’s delisting from the New York Stock Exchange and suspension of AVG‘s reporting obligations under the Exchange Act and to consummate the transactions and their plans described in this press release; and AVG’s performance and maintenance of important business relationships. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in AVG’s filings with the U.S. Securities and Exchange Commission, including AVG’s Annual Report on Form 20-F for the year ended December 31, 2015. These forward-looking statements speak only as of the date of this release and neither Avast nor AVG assumes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.
Additional Information and Where to Find It