Avast takes $113m equity injection

Anti-virus software maker Avast has received a US$100 million ($113 million) equity injection after Summit Partners took a minority stake in the firm.

Avast made a popular free anti-virus program with upgrades to premium paid versions.

The company claimed it protected "one out of every five computers around the world from malware".

It had no plans to change its distribution model, although it conceded it hadn't foreseen in the early days the level of demand it would eventually receive for its product.

"When we first launched free distribution of Avast anti-virus in the early 2000s, we gave ourselves room to grow - but never dreamed that the product would gain such global popularity," co-founder Eduard Kucera said.