Exit: Investcorp Technology Partners sells Avira to NortonLifeLock
Frankfurt a.M. — McDermott has advised Investcorp Technology Partners on the sale of cybersecurity company Avira to NortonLifeLock Inc. advise NortonLifeLock, also a leading cybersecurity company, will acquire Avira in an all-cash transaction valued at approximately $360 million. The closing of the transaction is still subject to antitrust clearance and is expected in the first quarter of next year.
Investcorp had only acquired Avira in April 2020 for around 165 million euros. The acquisition marked Investcorp’s seventh deal from its $400 million IV. Technology Fund and the third acquisition of a tech company in the DACH region within the previous 18 months.
Avira is a leading multinational IT security software company headquartered in Germany with offices in Europe, the US and Asia. It serves the OEM (original equipment manufacturer) and consumer markets with anti-malware, threat intelligence and IoT solutions, protecting over 500 million endpoints worldwide.
Investcorp Technology Partners focuses on investing in fast-growing, founder-led companies in Europe. The technology team is considered a market leader in investing in lower middle market companies with a focus on software, data/analytics, cybersecurity and fintech/payment. Since 2001, Investcorp has raised over $1.5 billion to invest in technology companies.
The McDermott team led by partners Michael Cziesla and Norman Wasse had already advised Investcorp Technology Partners on the acquisition of Avira in April and on the acquisition of a majority stake in Contentserv Group in 2019.
Advisors Investcorp Technology Partners: McDermott Will & Emery (Frankfurt)
Dr. Michael Cziesla (photo), Norman Wasse (both lead, M&A/Private Equity), Dr. Kian Tauser, Dr. Heiko Kermer, Marcus Fischer (Counsel; all Tax), Daniel von Brevern (Antitrust, Düsseldorf), Dr. Nikolas Koutsós (Counsel, Financing); Associates: Dr. Marion von Grönheim, Victoria Huf (Trainee; both Corporate/M&A)
Proskauer Rose (London): Steven Davis, David Hill, Jacqueline Ball