Intel invests in Czech security company
- 07 September, 2005 12:00
The venture capital arm of chip maker, Intel, has invested $US16 million in Grisoft, an antivirus software company based in the Czech Republic.
Grisoft's AVG antivirus software is available for both home and business users and is used on 25 million computers around the world, Intel said in a press release.
The competition council of the Czech Republic must approve the investment, it said.
Intel wants to help Grisoft reach a wider audience with its investment, Intel Capital said.
The proposed $US16 million stake represents Intel's largest investment to date in Central and Eastern Europe. The vendor has only invested in five other companies in the region since 1999, including a broadband-over-power lines company in Russia and a telecommunication service provider, according to its website.
Last year, Intel Capital invested $US130 million in emerging companies, with 40 per cent of those investments reaching companies outside of the US. The group tries to pick companies that it believes will create or enhance new markets for Intel's products. Last month, Intel Capital announced investments in three Chinese companies from a special fund created to invest in China.