Status Update: Clearance

Acquirer:  Avast Holding B.V. (The Netherlands)

Acquired: AVG Technologies N.V. (The Netherlands)

Value:  Approximately US$1.3 billion

Industry: Software; Cybersecurity

UPDATE:  In relation to Avast Software B.V.’s July 29, 2016 Offer to Purchase the remaining outstanding ordinary shares of AVG Technologies N.V., the parties reported “submitted a voluntary pre-filing draft notice to CFIUS” on August 4, 2016.  (AVG Technologies Amendment to Schedule 14D-9, Sept. 21, 2016, SEC Filing.)  Following “comments from CFIUS on that draft . . . the parties officially filed a joint voluntary notice with CFIUS” on August 16, 2016.  (Id.)   “On September 20, 2016, the parties received written confirmation from CFIUS that it has completed its review of the transactions contemplated by the Purchase Agreement under FINSA and determined that there are no unresolved national security concerns with respect to the transactions contemplated by the Purchase Agreement.” (Id.)    Avast Software announced on September 30, 2016 that “it has acquired a majority stake in AVG Technologies after completing the initial offering period of its tender offer for all of the outstanding ordinary shares of AVG Technologies N.V.”  (Avast Software Press Release, Avast Closes Acquisition of AVG Technologies, Sept. 30, 2016.)

Posted August 25, 2016

Status: Upcoming/New Filing

Avast Software B.V., a direct wholly owned subsidiary of Avast Holding B.V., both limited liability companies organized under the laws of The Netherlands, filed with the SEC an amendment to its Tender Offer Statement noting that a voluntary pre-filing draft notice to the Committee on Foreign Investment in the United States (CFIUS) had been filed on August 4, 2016 in relation to its July 29, 2016 tender offer to purchase all the outstanding shares of AVG Technologies N.V., a public limited liability company organized under the laws of The Netherlands, listed on the New York Stock Exchange, and a U.S. Business under the CFIUS regulations.  See SEC filing here; see also Avast Software press release here.   According to the SEC filing, “The Department of the Treasury has informed the parties that its review of the transaction commenced on August 22, 2016 and has confirmed that its deadline for completion of the review is September 20, 2016.”