Archive for the ‘symantec’ Category

Free Anti-Virus Maker AVG Files For $125M IPO

Tuesday, January 17th, 2012

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Free anti-virus software maker AVG Technologies filed to raise up to $125 million in an IPO.

AVG, provides free anti-virus and monetizes it by serving targeted advertisements and by driving traffic to online search engines such as Google¬† and Yahoo. Yahoo accounted for 21.6 percent of the AVG’s total revenue in 2010, while Google contributed less than 10 percent to its revenue in the fourth quarter of the same year, according to IPO filing.

“The whole ‘freemium’ model has been effective in gaining subscribers, so their strategy seems to be less focused on growing the subscription revenue – if you look at the growth rate year over year.” William Blair & Co analyst Jonathan Ho told Reuters.

Using the ‘freemium’ model, AVG pulled in $130 million in the first nine months of 2011, AVG’s subscription revenue rose marginally to $130.1 million, while its platform-derived revenue almost doubled to $68.02 million. AVG reported a net income of $99.7 million on total revenue of $198.1 million for the nine months ended September 30. AVG had a user base of 106 million of which 15 million are paid users, which is very high for a fremium model.

“I think that (there is) strong demand for security, given the recent cyber-security headlines, and that’s giving the folks (a) chance to take advantage of the high valuations these stocks are attracting”, said Ho.

Avast Software BV, another anti-virus software maker, filed for a $200 million IPO recently and Imperva, data security raised $90 million in its IPO.

McAfee Kicks Off Annual Christmas Layoffs

Friday, December 9th, 2011

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It’s become tradition in Silicon Valley to layoff workers prior to Christmas. This year the annual Christmas layoff has come earlier than usual. Security software maker McAfee kicked things off by laying off about 250 workers, equivalent to 3 percent of its workforce, in a bid to focus on core businesses and improve efficiency in a market led by rival Symantec .

“In order to better prepare the company for growth in 2012 we have made the difficult decision to reduce a small percentage of our global workforce,” said McAfee spokesman Ian Bain told Reuters.

Bain said the job cuts were in areas that will not be part of McAfee’s core focus next year.

McAfee is operated as a subsidiary of Intel and an Intel spokeswoman said the layoffs were planned by McAfee’s management.

In October, Symantec CEO Enrique Salem told analysts on a conference call that disruption to McAfee’s business following its acquisition by Intel was helping Symantec across various segments.

Symantec spokeswoman Nicole Kenyon told Reuters on Tuesday there have been no recent layoffs at Symantec and that none were immediately planned.

It is traditional for Yahoo to kick off the annual layoffs but however things seem to be quite there. Maybe, its because many are leaving the company voluntarily.

The chatter is in the new year there will be many, many, many, layoffs across the entire tech industry.