Avast plans $4bn London listing to win cyberwar

A cybersecurity software group whose chief executive was fined in the US for allegedly aiding and abetting an accounting fraud is preparing to list on the stock market in one Britain’s biggest technology floats.

Avast, which provides security software to hundreds of millions of PC and mobile phone users worldwide, including 14 million in Britain, is aiming for a $4 billion flotation on the London market that should complete by the end of next month.

Based in the Czech Republic, Avast was founded in 1988, initially as a co-operative, by two researchers who developed security software after their institute was the victim of a cyberattack. They eventually signed a licensing deal with McAfee, the American group, and today the company has 435 million users worldwide,…

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