Kaspersky Lab CEO backs out of IPO plans

Founder buys back 20 percent stake

Kaspersky Lab founder Eugene Kaspersky has cancelled plans for the firm to go public, announcing his intention to buy back a 20 percent stake sold to a private equity investor a year ago.

In comments that emerged from the company's Cancun analyst conference, Kaspersky's CEO said the reason for the about turn had to do with his reservations about how an IPO might affect the company's unusual culture.

"It is flexible. It is very, very innovative. I like it. I don't want to change," the famously laid-back Kaspersky was reported by Reuters to have said. "You don't have to report to anybody else but yourself."

The news comes only a year after private equity General Atlantic had paid north of a rumoured $200 million in exchange for a 20 percent stake in Kaspersky Lab, which valued the company at the $1 billion mark.

The Kaspersky IPO has been one of those on-off possibilities since the idea first emerged in 2009.

Eugene Kaspersky is said to still own more than half the company he founded in Russia in 1997. Since then it has grown into a mid-size engineering-led outfit capable of taking on the giants of the security software market Symantec, McAfee (owned by Intel) and Trend Micro.

A rival mid-sized security company Sophos went down a similar on-off IPO route to Kaspersky Lab before eventually selling a large stake in itself to UK equity house Apax Partners in 2010. This now looks like a sort of private halfway house that stops short of a full IPO that might eventually happen as and when the investor decides it is worth it.

Tags: kaspersky lab, Personal Tech, security

Comments

1

Katrina

Tue 03/04/2012 - 16:07

Kaspersky Lab founder Eugene Kaspersky has cancelled plans for the firm to go public, announcing his intention to buy back a 20 percent .

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the CSO comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
CSO Corporate Partners
  • FirEye
  • Clear Swift
  • Trend Micro
  • Sophos
  • NetIQ
rhs_login_lockGet exclusive access to CSO, invitation only events, reports & analysis.
CSO Directory

Deep Security - Enterprise Virtualization Security

Advanced protection for physical, virtual and cloud servers

Security Awareness Tip
Software security company www.clearswift.com gives some advice this holiday season to make sure employees don’t end up on Santa’s naughty list!


At a fundamental business level, social media is a useful additional tool for communicating and collaborating with customers, colleagues and new business prospects. From an HR point of view, the social web is not only useful for recruitment but also as a knowledge network. At an employee level, social media is changing the way we work: Employees increasingly expect to be able to access personal technology and services in the workplace. As the lines between work and home life blur, staff are looking for greater flexibility in their roles; working from home is an increasing trend, but so too is ‘home-ing from work’, where staff expect to be able to perform personal tasks at work.

But social media brings risk and reward to business in equal measure. Information security is a key concern: Many organisations view social media channels as yet another route along which sensitive data can escape from the business, whether accidentally or maliciously. On top of this, senior management may be concerned about the amount of time employees spend on social networks.

This cultural shift raises new questions about trust in the workplace, the balance of power in employer / employee relationship and levels of control over people and content.


Organisations using content and web security technology can manage the way their staff use email and the internet without having to resort to a default position of mistrust. With a whopping third of ANZ employers completely blocking social media access at work, there’s a real danger of throwing the benefits of collaboration out with the risks.


It doesn’t have to be that way.

Trust breeds responsibility: People underestimate the amount of company time they spend on personal browsing. Allow staff to view their own web usage and foster more responsible behaviour without undermining trust.


Know limits: Set clear limits on personal surfing and communicate them to users. Alert them when they are approaching their limit. Help your people to play by the rules.


Share the load: Spread responsibility for usage reporting among managers and department heads so everyone gets to see how their usage impacts on the rest of the organisation. This also gives managers greater control and visibility into usage.


Need to know: Yes, you need reports and visibility. What you don’t need is employee data becoming common knowledge. Access control means reporting can be adjusted on a need-to-know basis.


Security ABC Guides

7 Ways to Protect Your Business Printers

Can a hacker burn down your business by remotely setting one of your printers on fire? Researchers at Columbia University have recently proposed such a scenario, although HP quickly denied that it's possible. However, even if your printers can't be used as remote firestarters, there are many risks involved in networking a printer.