The price paid by the investors that have recently taken over a minority stake in Romanian producer of IT security solutions BitDefender was the right one, believes Beau Roberts, BitDefender's global marketing manager who also heads the company's office of Silicon Valley, US.
In early December 2007, a group of seven Romanian and US investors paid 7m dollars (4.8m euros) for a stake of below 7% in BitDefender, valuing the company at over 100m dollars (68m euros).
"This first investment, carried out by individual investors, formalised the company's value and set a minimum threshold for future investments," stated Roberts. "This is positive for the company as the investors will provide a much wanted expertise in terms of preparing BitDefender for floatation on the Stock Exchange and of luring further investors," added the company's representative.
Roberts, who has worked on the IT market for around 20 years (including stints with rivals McAffee and TrendMicro), considers that when it comes to development and expansion, no company should be in a hurry. "I was really surprised it's happened so fast," says Roberts, adding he had not expected an external investment before 2008.
"I believe it was normal that Florin Talpes (BitDefender founder i.e.) should opt for a group of individual investors and not for investment funds. Individual investors are more cautious with their money than most investment funds. (...)," said Roberts.
These first investors are setting the minimum price that has to be paid to enter the company, but are also taking on the biggest risk. "Nevertheless, the anti-virus solution market has reached maturity.
However, investors are not counting BitDefender gaining significant percentages from its rivals' market shares. They expect BitDefender, through the technology it's developing, to tap into new emerging markets, such as mobile devices, or a new type of security solution we?re going to invent," stated Roberts, without offering further details.
He specified, though, that BitDefender was getting ready to launch a new security suite for the SME sector next spring, a period when it is to announce its strategy for the SaaS (software as a service) segment. Previously, Roberts had told ZF that SaaS would be an important growth driver, and help the firm to reach its target of controlling 5% of the market by 2010.
As regards the company's future, Roberts says he is expecting a new investment toward the end of the first half of 2008 or the second half.
While specifying it is all speculation, Roberts considers it would be in the company's best interest to attract investments from the part of a US fund to more rapidly boost its presence on this market. He expects the recently raised sum to be largely used to this end.
He specified BitDefender might take over small US firms, but was more likely to acquire technologies.
BitDefender
In early December 2007, a group of seven Romanian and US investors paid $7m (4.8m euros) for a stake of below 7% in BitDefender, valuing the company at over $100m (68m euros)
Is getting ready to launch a new security suite for the SME sector next spring, a period when it will announce its strategy for the SaaS segment
Wants to strengthen its presence on the US market
May take over small US firms, but is more likely to acquire technologies
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