AVG Technologies N.V. (AVG) said Wednesday that it has entered into an agreement to acquire the business of LPI Level Platforms Inc., a remote monitoring and management software company.
Headquartered in Ottawa, Ontario, Canada, LPI Level Platforms provides next generation remote monitoring and management software through Managed Workplace, its award-winning cloud-based remote monitoring and management platform.
The acquisition will enhance AVG's cloud-based services model by adding LPI Level Platforms' Managed Workplace software to AVG CloudCare, integrating products such as RMM and Mobile Device Management (MDM). In addition, it will significantly expand AVG's distributor network by adding over 1,500 active LPI Level Platform Managed Service Providers partners.
AVG expects to realize significant synergies by combining platforms and business operations, with the objective of making the acquisition accretive quickly. AVG expects $5 million of subscription revenue related to the deal in the second half 2013, which is expected to be neutral to non-GAAP earnings. In 2014, subscription revenue is projected to be $15 million and non-GAAP EPS is projected to be in the range of 6-10 cents for that business.
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