J.R. Smith, Chief Executive Officer, AVG commented, "AVG has created one of the world's largest installed customer bases for anti-virus software, and has delivered powerful security technologies and solutions that are proven and well-respected in the market. The potential and growth opportunities for our business are extraordinary, and we are delighted that the market has recognized that potential with this new credit facility led by two of the most respected global institutions, Morgan Stanley and J.P. Morgan. This agreement further strengthens AVG’s market position, provides additional financial flexibility, and enhances our ability to execute our strategic plans. AVG firmly believes that basic internet protection should be free, and we continue to offer the most robust free offering in the market which forms the cornerstone of our financial success through the company’s unique business model. We look forward to continuing to address the expanding needs of the global security software market through improved technology and broader language and platform support."
"We are very pleased with the outstanding support received from our lending group and their validation of our strategic approach and our ability to simultaneously deliver top-line growth, solid cash generation, and a lean cost structure," said John Little, Chief Financial Officer of AVG. "It also was compelling to offer our first ever public capital markets transaction mainly to U.S. investors, given the majority of our revenues are derived from the U.S., and the extensive interest in our sector from the U.S. market."
About AVG Technologies
AVG is a global security software maker protecting more than 110 million consumers and small businesses in 170 countries from the ever-growing incidence of Web threats, viruses, spam, cyber-scams and hackers on the Internet. AVG has nearly two decades of experience in combating cybercrime and one of the most advanced laboratories for detecting, pre-empting and combating Web-borne threats from around the world. Its free, downloadable software allows novice users to have basic anti-virus protection and then easily upgrade to greater levels of safety and defense when they are ready. AVG has nearly 6,000 resellers, partners and distributors globally including Google, Amazon.com, CNET, HSBC, Cisco, Ingram Micro, Play.com and Wal-Mart.
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