Capital injection for BitDefender

Stephen Withers
Tuesday, 11 December 2007 04:26

IT Industry - Listed Tech

Security software vendor BitDefender has received a capital injection of $US7 million from a group of Romanian and American private investors in a deal that values the company at over $US100 million.

"As seasoned investors, putting our own money on the line, we are impressed by BitDefender's passion to help their customers interact confidently and securely in a digital world through continuous innovations that provide the future of security now," said Horia Manda, managing partner of two of the investors, the Romanian-American Enterprise Fund and the Balkan Accession Fund.

"BitDefender products and technology, with a proven track record of success, are ideally situated for increased penetration into an evolving worldwide IT security market, and we look forward to supporting expansion of the company."

The money will be used to fund further international expansion and increased R&D efforts.

BitDefender and its investors will work towards a public offering in Romania, elsewhere in the EU, or in the US.