Kaspersky Lab Announces Recapitalization Plan
Woburn, MA – February 3, 2012 – Kaspersky Lab, a leading developer of secure content and threat management solutions, announced today a recapitalization plan as part of an initiative to streamline the company’s shareholders base. In recent years Kaspersky Lab has accumulated significant profits, growing faster than all major competitors. After a review of the company’s growth strategy, Kaspersky Lab’s shareholders have decided to utilize a portion of the accumulated profits for a share repurchase initiative. As a result, the company will buy back the Kaspersky Lab shares held by the investment firm General Atlantic, in addition to the shares of some other individual shareholders who have chosen to participate in the repurchase.
Commenting on the changes, Eugene Kaspersky, founder and CEO of the company, said: “Thanks in part to our strategic partnership with General Atlantic we were able to significantly improve internal business processes and create a more robust product strategy - two important achievements in the development of the company in recent times. We have learned a great deal from this partnership and we hope to continue our cooperation with General Atlantic in other ways in the future.”
Kaspersky Lab’s board of directors will soon be reelected in accordance with the new capital structure of the company. Respective announcements will be made as and when appropriate.
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 computer defense for more than 300 million systems around the globe, including home and mobile users, small and medium sized businesses and large enterprises. Kaspersky technology is also incorporated inside the products and services of nearly 100 of industry leading IT, networking, communications and applications solution vendors.