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Friday, 26 November 2010

AVG acquires Mobile Security startup DroidSecurity for up to $ 9.4 million

Manufacturer of software security AVG Technologies acquired DroidSecurity of its founders and investors for a reported $4.1 million with an earn-out to 5.3 million, subject to performance Israel milestones.

DroidSecurity offers products designed to protect smartphones owners, tablets, and other devices running on Google's Android against viruses and mobile malveillants.Sécurité software operating system app platform Android ANTIVIRUSFree, society has exceeded the 4.5 million download milestone last month and is an application-tier.

AVG says acquisition allows its mobile solutions team extend security offers available to its users over 110 million include expanding mobile security arena.

Gartner has just published a report that shows the part of the Android market now has more than 25 per cent, which means it is currently the second most popular mobile OS in the world.

Upon completion of the transaction, which is subject to regulatory approvals and customary closing conditions DroidSecurity will become a wholly owned subsidiary of AVG and will continue to be headquartered in Tel Aviv, Director General and co-founder, Israël.Son Eran Pfeffer, will become CEO of AVG mobile solutions team.

DroidSecurity was founded in 2009 by Dror Shalev and Omri Sigelman Pfeffer.

Globes, DroidSecurity was partially owned by managers and employees and partly by the Maayan Ventures investor as well as a group led by partner Quantumwave Capital Efal Shachar private supporters.


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