Intel Buying A Chunk of Grisoft

    September 6, 2005

Intel Capital, Intel’s venture capital side, announced they are sinking $16 million into Czech online security firm Grisoft. This makes Intel’s largest investment to date in Central and Eastern Europe.

“By acquiring shares in Grisoft, Intel Capital is supporting the development of anti-virus software development and deployment around the globe,” said Intel Capital President Arvind Sodhani. “Under the terms of the strategic cooperation agreement with Grisoft, Intel will work to help Grisoft improve security on computing platforms for small businesses and consumers.”

Right now, Grisoft offers both paid and freeware forms of its anti-virus as well as other security programs.

“Grisoft has grown rapidly from a provider of anti-virus software in the Czech Republic to a major, global player,” said Grisoft Chairman Gabriel Eichler. “Its AVG software, now including firewall, protects 25 million computers worldwide. The growing need for computer security and its increasing complexity combined with a highly positive response of our users, testers and reviewers lead us to anticipate the company will continue on the path to becoming the global leader within its market segment. We felt that it was the appropriate time to bring in value-added investors to help capture Grisoft’s future prospects

John Stith is a staff writer for WebProNews covering technology and business.