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.
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