German cybersecurity company Avira has agreed to be acquired by Investcorp Technology Partners IV owned by Bahrain-based alternative investment manager Investcorp for an undisclosed price.

Avira said that the acquisition marks the first institutional investment in the company since it was established by Tjark Auerbach in 1986.

The German cybersecurity company provides cybersecurity software solutions to the original equipment manufacturer (OEM) and consumer markets with over 500 million endpoints protected across the world.

Avira, which has operations in the European Union the US, and in Asia, has expertise in anti-malware, threat intelligence, and IoT solutions.

The company’s software is said to offer next-generation security for the online identity, finances, and private data of users, safeguarding them against viruses, ransomware, malware, and other threats. Apart from that, the cybersecurity company claims to have started the freemium software business model to provide cyber security products, free-of-charge.

Travis Witteveen – CEO of Avira said: “We are proud to be partnering with a firm that offers such a breadth of experience working with growing technology and software companies.

“The investment confirms our business strategy and enables Avira to further accelerate our profitable growth in the consumer and OEM market segments.”

Avira said that the investment from Investcorp represents a new chapter in the company’s history, and enables it to bring its experience, knowledge, and products to more people across the world.

Investcorp has been engaged in investing in mid-market technology firms with a particular focus on IT security, data/analytics, and fintech/payment sectors. In the past, the alternative investment manager invested in Utimaco, Sophos, Nebulas, iT-CUBE, Optiv, SecureLink, CoreSec, OpSec, CSID, and Impero.

Gilbert Kamieniecky – Managing Director and Head of Investcorp Technology Private Equity Business said: “We are delighted to announce another high-quality addition to our Technology Partners portfolio. Avira represents an attractive opportunity to invest in a cybersecurity business.

“With our long history of working with cybersecurity, IoT and data-driven businesses, Investcorp is looking forward to supporting Avira’s targeted growth trajectory and expansion plans.”

The closing of the deal is subject to receipt of anti-trust approval.

  Avira, Bahrain, cyber security, Germany, Gilbert Kamieniecky, Investcorp, Investcorp Technology Partners IV, Tjark Auerbach, Travis Witteveen