Kaspersky to partner with private equity firm General Atlantic

Thursday, January 20, 2011

Russian antivirus software developer Kaspersky Laboratories will partner with US private equity investment firm General Atlantic, according to a press release from Kaspersky.

General Atlantic, which focuses on global growth equity investment, will become the second-largest shareholder of the privately held company.

Kaspersky highlighted this partnership as the next stage of its global growth strategy, benefiting from General Atlantic's strategic support.

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Kaspersky said it sees opportunity for future growth in the endpoint security market. It has made targets for the consumer and corporate sectors, while also expanding its technology and product portfolio to address cloud computing, IT consumerization and the creation of technologies to deal with threats in mobile computing.

The world's largest privately held internet security company, Kaspersky provides solutions for IT threats such as viruses, spyware and hackers, among others. The firm is currently growing at twice the overall market growth rate.

Kaspersky has previously said that Mexico and other Latin American countries will present major growth opportunities in security services for the company in 2011. The firm also said it plans to keep as a top priority building its regional partner network. In the first half of 2010, Kaspersky saw its revenues in Latin America grow more than 100% year-over-year.