Security vendor AVG Technologies on Friday filed for an initial public offering that is expected to raise $US125 million ($A121 million).
The Amsterdam-based software maker is best known for the free version of its anti-virus software, which the company hopes will lead to users upgrading to the premium version.
In a Securities and Exchange Commission filing, the company said revenue in 2010 was $217 million, which represented a 38 percent compound annual growth rate since 2008. During the first nine months of last year, revenue reached $198 milion.
AVG, which says it has 106 million active users, generated almost 31 percent of its 2010 revenue from resellers and distributors. Large retail stores carrying its products include Wal-Mart.
"This reseller network forms a part of our brand marketing strategy and generates the majority of our small business sales," the company said.
Underwriters of the IPO were Morgan Stanley & Co., J.P. Morgan Securities and Goldman Sachs & Co.
This article originally appeared at crn.com
Issue: 315 | May 2013
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