Frankfurt, December 8, 2020 – McDermott advised Investcorp Technology Partners on the sale of Avira, Germany’s leading cybersecurity company, to NortonLifeLock Inc. NortonLifeLock, a leading name in global cybersecurity, will acquire Avira in an all-cash transaction of approximately 360 million USD. The closing of the transaction is subject to customary antitrust approval and expected to be completed in Q1 of next year.
Investcorp only acquired Avira in April 2020 for €165 million marking the seventh deal from its $400 million Fourth Technology Fund and the third investment in the DACH tech sector in the previous 18 months.
Avira, headquartered in Germany with offices across the EU, in the United States, and in Asia, is a multinational cybersecurity software solutions firm serving the OEM (Original Equipment Manufacturer) and consumer markets, with more than 500 million endpoints protected globally. With over 30 years of product development experience, Avira specializes in anti-malware, threat intelligence and IoT solutions.
Investcorp Technology Partners focuses on investments in fast-growing founder-owned companies headquartered in Europe. The Technology team is a market leader in investing in lower mid-market technology companies with a specific focus on software, data analytics, cybersecurity and fintech payments. Since 2001, Investcorp has raised over $1.5 billion in funding for technology investments.
The McDermott team led by Michael Cziesla and Norman Wasse previously advised Investcorp Technology Partners on the acquisition of Avira in April as well as on the acquisition of a majority stake in Contentserv Group in 2019.
A McDermott team led by Michael Cziesla and Norman Wasse advised Investcorp Technology Partners on this complex international transaction together with, Kian Tauser, Heiko Kermer, Marcus Fischer, Daniel von Brevern, Nikolas Koutsós, Marion von Grönheim, Victoria Huf.
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