Monday, July 23, 2012

Avast Thursday Initial Public Offering Postponed

 From the Original Post - Updates at End of Blog

Antivirus software company Avast will have their Initial Public Offering (IPO) Thursday.  The ticker symbol will be AVST. The roadshow is about at an end! Palo Alto Networks' successful IPO Friday suggests that the IPO  market may be open again.

Avast plans to offer 9 million shares at between $9 and $11 each with this IPO. The price  may be tweaked on Wednesday. The lead underwriters for the IPO are UBS Investment Bank, Deutsche Bank Securities and Jefferies & Co.  Avast uses the freemium strategy for their antivirus software. Avast  develops anti-virus software, specializing in a free version of its product used by consumers. They then offer  upgrades that can be purchased.  Avast is number one in OPSWAT’s most recent world wide industry market share analysis for antivirus software. www.opswat.com
 
James Krapfel of Morningstar said Avast is going public at a time when “the company’s software is installed on 20% of the worldwide consumer and small business PCs.” Krapfel called Avast “a higher quality peer” to rival AVG Technologies AVG  with sales growing at twice AVG’s annual rate.
  
Below is a summary of some of their financial data, revenue, income, etc. Click on it to enlarge.








Avast’s freemium competitors include Avira, AVG Technologies, PC Tools, and Panda.  Microsoft offers a free version of antivirus but no paid versions.  The Avast current installed base in about 159 million. They most recently had 1.72 million downloads on www.download.cnet.com   last week.  
 July 29 updates - Avast was the most popular free  antivirus download on CNET  for the week ending July 29, with 1.69 million downloads.


Updates


 July 30 update - Avast was the most downloaded free AV product on download.com for the week ending July 29 with 1.69 million downloads.

July 25 update - Avast Software  postponed its IPO on Wednesday evening, citing poor conditions. 

AVG Technologies executive JR Smith told  the Financial Times on Thursday that the  IPO situation for CEE tech companies is likely to get worse before it gets any better. “We are a European software company and we are pretty close to what is going on here, and start-ups and those companies looking for additional capital investment will find it tougher for sure over the next 12 to 18 months.”
The Avast  S-1 filed with the SEC   can be viewed at the link below.   Informative reading.

For more information, go to

 

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