AVG Technologies To Buy Location Labs - Quick Facts

(RTTNews) - AVG Technologies N.V. (AVG) announced a definitive agreement to acquire privately-held Location Labs, a global pioneer in mobile security for humans. AVG will pay approximately $140 million initially, plus up to an additional approximately $80 million in cash consideration over the next two years based on the achievement of certain performance metrics and milestones. The company expects the deal to be neutral to EPS in 2015.

AVG said the acquisition brings an innovative platform of personal security products for mobile devices and deep integration with global industry partners, including all four major mobile operators in the United States. The acquisition broadens AVG's position as the online security company by accelerating its mobile security business.