Kaspersky Lab Partners with a Leading Global Growth Equity Investment Firm
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
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.
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
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/.
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.