The Czech-founded, Amsterdam-based security operation AVG Technologies already has a mobile presence, with antivirus and anti-theft apps for Android, but the company is best-known for its desktop products. That may change – the firm said on Wednesday that it will shell out a whopping $220 million for U.S. mobile security company Location Labs.
According to a statement, AVG expects the combined business to pull in $60 to $70 million in mobile business next year, and around $100 million in 2016, with a hoped-for combined user base of around 250 million people.
“Location Labs has effectively cracked the code for mobile monetization through its highly successful business model with industry partners,” AVG CEO Gary Kovacs said in the statement. “This acquisition significantly accelerates AVG’s mobile strategy in this area.”
Location Labs chief Tasso Roumeliotis will continue to lead his team, the companies said. AVG shareholder approval is still needed before the transaction can close – an extraordinary general meeting will take place in mid-October in Amsterdam.