General Atlantic becomes the second largest shareholder in the company
January 20, 2011 – Woburn, MA –Kaspersky Lab, a leading developer of secure content and threat management solutions, announces its partnership with General Atlantic LLC (GA), a leading global growth equity investment firm. The agreement with GA marks the next stage of Kaspersky Lab’s global growth strategy. The company will benefit from GA’s strategic support for management’s vision to continue its global market expansion. GA will become the second largest shareholder in the company, acquiring a number of secondary shares. Details concerning the financial aspects of the deal will remain confidential.
Eugene Kaspersky, CEO, co-founder and controlling shareholder of Kaspersky Lab, said, “For Kaspersky Lab, this partnership is a strategic step in our global growth plans to bring on board a long-term, experienced international growth investor. General Atlantic, with its 30 years of experience backing great growth software and technology firms, is the right partner for us."
John Bernstein, GA’s Managing Director and Head of Europe, commented, “Kaspersky Lab is one of the great global growth firms with the best technology for protecting individuals and businesses against current and future IT security threats. We are impressed with Kaspersky Lab’s management team and believe the company is well-positioned for continued growth. It is a great opportunity for us to partner with such a visionary as Eugene Kaspersky, and we are looking forward to working with such a high quality, pioneering, technology company to support it in its rapid growth."
By partnering with General Atlantic, Kaspersky Lab starts the next stage of its global growth strategy. The company has consistently grown substantially faster than the market it serves and today is growing at more than twice the overall market rate. At present, the company sees great opportunity for further growth in the endpoint security market and has aggressive targets for the consumer and corporate sectors, while expanding its technology and product portfolio to embrace cloud computing, IT consumerization, and the creation of technologies to address the threats of the post–PC era. General Atlantic, with its successful track-record of investing in companies with proven growth and great potential, has recognized Kaspersky Lab as an attractive investment opportunity that fits well with General Atlantic’s decades of experience in the software sector.
Natalya Kaspersky, Chairperson of the Board of Directors, co-founder and a significant minority shareholder of Kaspersky Lab, commented on the agreement with General Atlantic, saying, “Throughout its history, Kaspersky Lab’s business has developed very fast and its current growth rate is much higher than that of the industry’s. The company has been approached by many private equity firms during the last decade which proves our business’ attractiveness. We realize the necessity to take the next step in our global development and have chosen a partner who will provide better added value in terms of strategy development and who will help to mature the organization. I am delighted that General Atlantic has become that partner.”
About Kaspersky Lab
Kaspersky Lab is the world's largest privately-held Internet Security company, providing comprehensive protection against all forms of IT threats such as viruses, spyware, hackers and spam. The company's products provide in-depth defense at work, at home and on the road for home and mobile users, small and medium sized businesses and large enterprises, protecting more than 300 million systems around the globe. Kaspersky technology is also incorporated inside the products and services of approximately 100 of the industry's leading IT, networking, communications and applications solution vendors. For further information about the company, please visit http://www.kaspersky.com/.
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About General Atlantic
GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately $17 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Düsseldorf, Hong Kong, Beijing, Mumbai and São Paulo.
GA invests annually in the $2 billion range, with an average investment size of just over $200 million in 2010. Active in five sectors globally, GA has invested in over 100 companies in the business services & technology industry. Current and prior technology related investments include market leading firms such as Lenovo, the Alibaba Group and SouFun in China; E*Trade, Priceline and Network Solutions in the US; Genpact in India; Mercardo Libre in Latin America; and Markit and Privalia in Europe. For further information and a listing of GA's public and private portfolio companies, see: www.generalatlantic.com.