Disposal of non-core asset
Avast PLC ("Avast" or "the Group"), a leading global cybersecurity provider, announces that it has sold the non-core asset of Managed Workplace, its remote monitoring and management product, to Barracuda Networks, Inc ("Barracuda").
Managed Workplace was Avast's solution in the Remote Monitoring and Management (RMM) space, which is sold to Managed Service Providers (MSPs). This business is not core to our SMB strategy, which focuses on securing the workplace. Barracuda, which has a large existing MSP base but does not currently offer an RMM solution, provides a better long-term solution for this business. In addition, Barracuda has signed a reseller agreement, and will resell Avast's business security solutions to MSPs.
In the year ended 31 December 2018 the asset generated low teen revenue (USD million) with a materially lower margin profile than the Group. The proceeds of the sale will be used for general corporate purposes.
For further information:
Peter Russell, Director of IR
IR@avast.com
Stephanie Kane
VP PR and Corporate Communications
mediarelations@avast.com