However, AVG scored 81.05 in Virus Bulletin's lab tests, which is slightly below average. AV-Test Institute gave AVG six out of six points for usability, 5.5 points for protection and 5.5 points for performance. Products ĪVG, which was purchased by Avast in 2016, has also generally performed well in lab tests. Avast had its IPO on the London Stock Exchange in May 2018, which valued it at £2.4bn and was one of the UK’s biggest technology listings. Shortly afterwards it was disclosed that someone may have created a malicious version of CCleaner with a backdoor for hackers. In July 2017, Avast acquired UK-based Piriform for an undisclosed sum. AVG was a large IT security company that sold software for desktops and mobile devices. In July 2016, Avast reached an agreement to buy AVG for $1.3 billion. By 2015, Avast had the largest share of the market for antivirus software. Additionally, in 2014 Avast's online support forum was compromised, exposing 400,000 names, passwords, and email addresses. Later that year, Avast acquired mobile app developer Inmite in order to build Avast's mobile apps. In 2014, CVC Capital bought an interest in Avast for an undisclosed sum. At the time, the company had 350 employees. By 2013, Avast had 200 million users in 38 countries and had been translated into 43 languages. In 2012, Avast fired its outsourced tech support service iYogi, after it was discovered that iYogi was using misleading sales tactics to persuade customers to buy unnecessary services. The following December, Avast filed for an initial public offering, but withdrew its application the following July, citing changes in market conditions. In 2010, Alwil changed its name to Avast, adopting the name of the software, and raised $100 million in venture capital investments. Former Symantec executive Vince Steckler was appointed CEO of Avast in 2009. As a result of the freemium model, the number of users of the software grew to one million by 2004 and 20 million by 2006. By 2001, Alwil was experiencing financial difficulties, when it converted to a freemium model, offering a base Avast software product at no cost.
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