Eugene Kaspersky, the Russian tech entrepreneur who runs the world’s fourth largest and Europe’s largest antivirus company, will buy back the shares of Greenwich, Connecticut based private equity firm General Atlantic. Kaspersky Labs had sold a 20 pc stake a year ago for USD 200 million to General Atlantic when it was planning to launch an IPO, valuing the company at USD 1 billion. Kaspersky, whose Moscow based firm’s annual revenue tops USD 500 million and employs about 2,500 people, said after months of review following the stake sale, he decided to remain private. The security firm will use profits accrued over previous years to buy back General Atlantic and several other smaller, individual shareholders’ stakes and cancel the repurchased shares.
Kaspersky Lab (www.kaspersky.com)
Kaspersky Lab is one of the most well-known names in computer security and anti-virus software, having been an industry leader for more than 14 years. Based in Moscow, Kaspersky Lab employs 2400 people in 29 countries worldwide. The company reported global revenues of USD of 612 million in 2011.
General Atlantic (www.generalatlantic.com)
Established in 1980, General Atlantic is an international private equity firm specializing in providing investment capital for growth companies. The firm prides itself on bringing sector expertise to all their projects, with special attention given to business services, energy, financial services, healthcare, IT and emerging markets. At present General Atlantic manages total assets near USD 15 billion. The company’s headquarters are located in Greenwich, CT, USA.