Bahrain’s Investcorp agrees to sell cybersecurity firm Avira for $360m

Bahrain’s Investcorp agrees to sell cybersecurity firm Avira for $360m

Deal to sell to NortonLifeLock is expected to close in the first quarter of 2021

Bahrain-based Investcorp has announced that it has entered into a definitive agreement to sell Avira to NortonLifeLock for about $360 million.

The transaction is expected to close in the first quarter of 2021, subject to regulatory approvals and customary closing conditions, the investment company said in a statement.

Avira is a Germany-headquartered cybersecurity software solutions firm which provides customers with a suite of software security solutions, including anti-malware, threat intelligence and IoT solutions to protect users' online identity, finances, and private data.

The sale of Avira is the first exit from the $400 million Investcorp Technology Partners Fund IV.

Gilbert Kamieniecky, managing director and head of Investcorp's Technology Private Equity business, said: “Our investment in Avira is another great case study for how we are able to leverage our expertise in European tech to help founders to strengthen and accelerate the growth of their businesses.

"We believe this transaction reflects our ability to quickly execute an ambitious organic and inorganic growth strategy alongside a company's management team. The opportunity to combine Avira with NortonLifeLock was too compelling to ignore, for the organization and we wish the company the best as it