Deux
pionniers de la sécurité s’unissent pour renforcer leurs qualités de leaders internationaux
dans la sécurité internet
Paris, France, le 7 juillet 2016 – Avast, l’éditeur des solutions de sécurité pour PC et mobiles les plus populaires
au monde, et AVG Technologies N.V., (NYSE: AVG), fournisseur de solutions de sécurité, de protection des données et
d’optimisation mobile et internet, annoncent aujourd’hui avoir conclu un accord
dans lequel Avast offrira d'acheter toutes les actions ordinaires en circulation
d'AVG à 25 dollars par action en espèces, pour une rétribution totale d'environ
1,3 milliards de dollars. Les deux sociétés, pionnières de l'industrie, fondées
en République Tchèque respectivement à la fin des années 1980 et au début des
années 1990, se sont développées à l'échelle internationale dans les années
2000. Elles combinent désormais leurs forces pour consolider Avast dans sa
croissance continue au sein de l'industrie de la sécurité.
Avast se lance dans cette acquisition afin de gagner de l’ampleur, de la
profondeur technologique et d’étendre sa présence au niveau mondial. Ainsi, à
travers cette nouvelle organisation, l’entreprise entend tirer le meilleur
parti des opportunités de croissance émergentes dans la sécurité de l’internet et
de l'efficacité en interne. La dimension technologique et la portée
géographique permettront à Avast de développer à la fois de nouvelles offres de
sécurité plus avancées pour leurs clients ainsi que des innovations telles que
la sécurité des objets connectés sur les marchés émergents.
En combinant les utilisateurs d’Avast et d'AVG, l'organisation disposera d’un
réseau de plus de 400 millions de terminaux, dont 160 millions sont mobiles,
qui agissent de facto comme des capteurs, fournissant des informations sur les
logiciels malveillants pour aider à détecter et à neutraliser les nouvelles menaces
dès leur apparition. Cette augmentation permettra à Avast de créer des produits
techniquement plus avancés en matière de sécurité personnelle et de vie privée.
Cette transaction a été approuvée à l'unanimité par le Conseil de Direction
et de Surveillance d’Avast. Celui d'AVG a soutenu la transaction et recommande
à ses actionnaires d’accepter l'offre.
« Nous faisons partie d’une industrie
qui évolue rapidement, et cette acquisition nous donne l'ampleur et la
profondeur technologique nécessaires pour être le meilleur fournisseur de
sécurité pour nos clients actuels et futurs, déclare Vince Steckler, le Président Directeur Général d’Avast. L’alliance des atouts de grandes entreprises
technologiques, toutes deux fondées en République Tchèque avec une culture et
une mission communes, va nous mettre dans une excellente position pour tirer
parti des nouvelles opportunités à venir, telles que la sécurité au service de
la croissance exponentielle de l'internet des objets ».
« Nous sommes convaincus que joindre nos
forces à celles d’Avast, une société privée disposant de moyens importants,
suit pleinement nos objectifs de croissance et représente les intérêts de nos actionnaires, explique Gary Kovacs, le Président Directeur Général d’AVG. Notre nouvelle ampleur nous permettra
d'accélérer les investissements dans les marchés en croissance et de continuer
à fournir des solutions complètes et simples à utiliser pour les consommateurs
et les entreprises. La sécurité en ligne ne concerne plus uniquement les
terminaux et se concentre de plus en plus sur les données et les utilisateurs,
c’est pourquoi nous pensons que la nouvelle entreprise fusionnée, grâce à la
valeur renforcée de son offre, va émerger comme un leader dans ce marché en
pleine croissance ».
Vous trouverez ci-dessous les détails de la transaction et la suite du
communiqué de presse en anglais :
The Transaction
The transaction
is structured as an all-cash tender offer for all outstanding ordinary shares
of AVG at a price of $25.00 per share in cash. Avast plans to finance the transaction using
cash balances on hand and committed debt financing from third party lenders. Avast has received a financing commitment of
$1.685 billion from Credit Suisse Securities, Jefferies and UBS Investment Bank.
In addition, Avast has contributed $150
million in equity investment to fund the transaction. The
proposed transaction is not subject to a financing condition.
The offer price represents a 33% premium over
the July 6, 2016 closing price and a premium of 32% over the average volume
weighted price per share over the past six months. The contemplated tender offer will be subject to certain
shareholder approvals, the receipt of regulatory clearances, the tender of at
least 95% of the outstanding ordinary shares of AVG or, if AVG shareholders
approve the asset sale contemplated in the purchase agreement, the tender of at
least 80% of the outstanding ordinary shares of AVG, and other customary
closing conditions. Additionally,
certain shareholders including funds affiliated with TA Associates, who hold
approximately 13% of the issued and outstanding shares of AVG, respectively, have committed to support
the transaction and tender their shares in the offer.
If at least 95%
of the outstanding ordinary shares of AVG are acquired in the contemplated
tender offer, 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 AVG’s shareholders
appove the asset sale contemplated in the purchase agreement at the
extraordinary general meeting of shareholders to be convened shortly by AVG and
the tender offer is successfully completed with Avast acquiring less than 95%
but at least 80% of the outstanding ordinary shares of AVG, then 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. The offer will be described in
more detail in a tender offer statement on Schedule TO to be filed by Avast and
a solicitation/recommendation statement on Schedule 14D-9 to be filed by AVG.
The transaction is expected to close sometime between September 15, and October
15, 2016, depending on the timing of regulatory review.
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 and Bridge Street Securities, LLC is
acting as independent financial advisor to the supervisory board of AVG.
Orrick, Herrington & Sutcliffe LLP and Allen & Overy LLP are acting as
legal advisors to AVG.
About AVG (NYSE: AVG)
AVG is a leading provider
of software services to secure devices, data and people. AVG’s award-winning
consumer portfolio includes internet security, performance optimization,
location services, data controls and insights, and privacy and identity
protection, for mobile devices and desktops. The award-winning AVG Business
portfolio, delivered through a global partner network, provides cloud security
and remote monitoring and management (RMM) solutions that protect small and
medium businesses around the world. For more information visit www.avg.com.
Forward-Looking Statements
This communication 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; the parties' ability to satisfy the
conditions to the contemplated tender offer and consummate the transactions
described in this communication; 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 SEC filings, 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
The
tender offer referenced in this communication has not yet commenced. This
communication is for informational purposes only and is neither an offer to
purchase nor a solicitation of an offer to sell any ordinary shares of AVG or any other securities, nor is
it a substitute for the tender offer materials that Avast will file with the
SEC. The solicitation and offer to purchase ordinary shares of AVG will only be made pursuant to an
Offer to Purchase, a related letter of transmittal and certain other tender
offer documents. At the time the tender offer is commenced, Avast will file a
tender offer statement on Schedule TO, including an Offer to Purchase, a
related letter of transmittal and certain other tender offer documents, and AVG will file a
Solicitation/Recommendation Statement on Schedule 14D-9, with the SEC, each
with respect to the tender offer. The
tender offer statement (including the Offer to Purchase, the related Letter of
Transmittal and certain other tender offer documents) and the solicitation/
recommendation statement will contain important information. AVG’s shareholders are urged to read
the tender offer statement and Solicitation/Recommendation Statement, as they
may be amended from time to time, as well as any other relevant documents filed
with the SEC, when they become available, carefully and in their entirety
because they will contain important information that holders of AVG’s securities should consider
before making any decision regarding tendering their securities. The Offer
to Purchase, the related Letter of Transmittal and certain other tender offer
documents, as well as the Solicitation/Recommendation Statement, will be made
available to all holders of ordinary shares of AVG at no expense to them. The tender offer materials and the
Solicitation/Recommendation Statement will be made available for free at the
SEC’s website at www.sec.gov. Copies of the documents filed with
the SEC by AVG will be
available free of charge on AVG’s
website at investors.avg.com. In addition to the Offer to Purchase, the
related Letter of Transmittal and certain other tender offer documents, as well
as the Solicitation/Recommendation Statement, AVG files annual, quarterly and current reports and other information
with the SEC. You may read and copy any reports or other information filed by AVG at the SEC public reference room
at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information on the public reference room. AVG’s filings with the SEC are also
available to the public from commercial document-retrieval services and at the
website maintained by the SEC at www.sec.gov.
