US private equity to take stake in Russia's Kaspersky Lab
Russian computer security provider Kaspersky Lab on Thursday announced that it had sealed a major share deal with global private equity firm General Atlantic.
After the deal, US-based GA will become the second largest single shareholder, the Moscow-based company said in a statement, adding that the financial details were not being published.
Vedomosti business daily on Thursday quoted Natalya Kasperskaya, the co-founder and chairman of the board of directors, as saying that GA was acquiring up to 20 percent the company.
Kommersant business daily quoted a source close to the deal as saying that around 15 percent was being sold, valuing the deal as between $150 million and $225 million.
Kasperskaya told Kommersant: "The company has grown to such a level that we need to get access to capital markets and the new investor will help us to hold an IPO.
"I can't say the exact time of the IPO since the decision hasn't been taken but it will definitely happen in the next five years," he said, referring to a future public share offer.
Kaspersky Lab's chief executive and controlling shareholder, Yevgeny Kaspersky, was quoted as saying in the company statement that "this partnership is a strategic step in our global growth plans."
The managing director of GA, John Bernstein, said: "We are impressed with Kaspersky Lab's management team and believe the company is well-positioned for continued growth."
Kaspersky Lab is Europe's largest producer of anti-virus software.
© 2011 AFP