By: Larry Walsh, Channelnomics
Kaspersky Lab, the Russian bear of security software, is looking to expand its global footprint and take the #3 market share slot in the U.S. without going public in the process.
Eugene Kaspersky, founder of the company that bears his name, told industry analysts at a conference in Cancun that he’s backing away from IPO plans. Instead, he’s planning to buy back the 20 percent stake sold last year to private equity firm General Atlantic and refocus the company on growth and profitability.
Kaspersky’s rationale is simple: Remaining private enables him and the Moscow-based management team to retain unrestricted control of the company’s operations and strategic direction, and preserve the company’s entrepreneurial culture.