AVG Technologies, a security software and online utility provider for the consumer market, registered with the SEC for a $125 million initial public offering on Friday. The Amsterdam-based company, whose predecessor was founded in 1991, booked $256 million in sales for the twelve months ended September 31, 2011. Its free antivirus product is currently the most downloaded software on CNET's Download.com, and its active user base stands at 106 million. AVG also sells premium software and services, including online storage and identity protection, and provides secure search through an agreement with Google (formerly with Yahoo!). Revenues increased 24% for the most recent nine month period. Financial backers include Intel, Polish Enterprise Investors, Grisoft Holdings, and TA Associates. Morgan Stanley, J.P. Morgan and Goldman Sachs have been chosen as lead underwriters. AVG Technologies plans to list on the New York Stock Exchange under the symbol AVG.
Avast Software (AVST), another leader in free security software, filed for its own IPO three weeks ago and is seeking to raise $200 million.
