Investcorp sells portfolio holding to NortonLifeLock

In a $360 million deal, Investcorp Technology Partners Fund IV had its first exit in the sale of leading cybersecurity provider Avira. The sale to Nasdaq-listed NortonLifeLock is expected to close in the first quarter of next year, according to a company announcement. Headquartered in Germany, Avira is a global cybersecurity software solutions firm serving the consumer and OEM (Original Equipment Manufacturer) end markets. Investcorp through its $400 million Fund IV was Avira’s first institutional investor and has since collaborated with founder Tjark Auerbach to drive organic growth and materially increase EBITDA. “Our investment in Avira is another great case study for how we are able to leverage our expertise in European Tech to help founders to strengthen and accelerate the growth of their businesses,” said Gilbert Kamieniecky, managing director and head of Investcorp’s Technology Private Equity business. “We believe this transaction reflects our ability to quickly execute an ambitious organic and inorganic growth strategy alongside a company’s management team.” The $32 billion Investcorp has been actively investing in lower mid-market technology companies with a successful track record in the data/analytics, IT security and fintech/payment sectors. Investcorp's other investments from its latest technology fund include Ubisense's SmartSpace, the enterprise software and sensor Real-Time Location Solutions platform; softgarden, a Human Resources software provider; Calligo, a proprietary cloud solution; Ageras, an online marketplace matching SMEs with professional service providers; Impero, a provider of online student safety and classroom and network management software; and Contentserv, a product information management solutions provider.

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