Panda sells majority shareholding.
Spanish security vendor
Panda Software
has announced the sale of 75% of its shareholding to southern European investment group
Investindustrial
and private equity firm
Gala Capital
.
Existing shareholders Berta Frías, Jose Maria Hernandez and Mikel Urizarbarrena retain the remaining 25% of the company and will continue to act as members of the company’s management team. Although the details of the sale have not been disclosed it is believed that the deal was brokered for in the region of €100m.
The company already has a strong presence in the European small and mid-sized business market, and with its new investors on board has announced plans for international expansion and the development of new technologies in a strategy imaginatively dubbed ‘Panda 2.0’.
Posted on 01 May 2007 by
Virus Bulletin
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