The venture capital arm of chip maker Intel Corp. has invested US$16 million in Grisoft s.r.o., an antivirus software company based in the Czech Republic, Intel announced Monday.
Grisoft's AVG antivirus software is available for both home and business users and is used on 25 million computers around the world, Intel said in a press release. The competition council of the Czech Republic must approve the investment, it said.
Intel wants to help Grisoft reach a wider audience with its investment, Intel Capital said.
The proposed $16 million stake in Grisoft represents Intel's largest investment to date in Central and Eastern Europe. Intel Capital has only invested in five other companies in the region since 1999, including a broadband-over-power lines company in Russia and a telecommunication service provider, according to Intel Capital's Web page.
Last year, Intel Capital invested $130 million in emerging companies, with 40 percent of those investments reaching companies outside of the U.S. The group tries to pick companies that it believes will create or enhance new markets for Intel's products. Last month, Intel Capital announced investments in three Chinese companies from a special fund created to invest in China.