In 2001, Grisoft was sold to a venture capital firm Benson Oak Capital. TA Associates invested an additional $200 million into the company that year for a minority stake in the business. In 2008, Grisoft changed the name of its parent company to AVG, the name already used for its software and for its American subsidiary. It started marketing software directly to consumers in 2006. For a time, the company was focused on bulk sales of antivirus software to computer manufacturers that sold PCs with Grisoft's software pre-installed. Grisoft also expanded to the United Kingdom, the Netherlands, Germany, and other countries. Grisoft later expanded to the US market, creating an American company called AVG. Grisoft grew as the country loosened its international trade policies, so it could exchange technology with companies in Europe.
Initially, Grisoft sold IT equipment and third-party software, in addition to its own antivirus product. At the time, Czechoslovakia was starting to transition from communism to capitalism. Avast acquired AVG for $1.3 billion in July 2016.ĪVG Technologies was founded by Tomáš Hofer and Jan Gritzbach in 1990 under the name Grisoft in Brno, Czechoslovakia. AVG went public on the New York Stock Exchange in February 2012. In the early 2000s, AVG expanded internationally and used money from venture capital investments to fund a series of acquisitions. It typically offers freeware, earning revenues from advertisers and from users that upgrade to paid versions for access to more features.ĪVG was founded in 1990 in Czechoslovakia just as the country was transitioning from communism to capitalism. AVG was a cybersecurity software company founded in 1991 and it merged into Avast following an acquisition in 2017. AVG Technologies is a brand of cybersecurity, privacy, performance and utility software applications for desktop computers and mobile devices developed by Avast, a part of Gen Digital.
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