Davis Polk advised AVG Technologies N.V. on its $128 million initial public offering of ordinary shares. The underwriting syndicate includes Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Goldman, Sachs & Co., Allen & Company LLC, Cowen and Company, LLC and JMP Securities LLC. The underwriters have an option to purchase an additional $19.2 million of ordinary shares to cover over-allotments.

Based in Amsterdam, the Netherlands, AVG’s mission is to simplify, optimize and secure the Internet experience, providing peace of mind to a connected world. AVG has grown its user base to approximately 106 million active users as of September 30, 2011, and offers a product portfolio that targets the consumer and small business markets and includes Internet security, PC performance optimization, online backup, mobile security, identity protection and family safety software.

The Davis Polk corporate team included Menlo Park partner Bruce K. Dallas and associates Peter M. Lamb, Daniel J. Luskin, Steve Valenzuela and Danielle Moore Burton, as well as London partner John B. Meade and associates Petja Toskan and Shih-Jern Liang. Menlo Park partner Rachel D. Kleinberg and New York associate Una Au provided tax advice. Menlo Park counsel Cynthia Akard provided compensation and benefits advice. Washington, DC counsel William B. Hoffman and associate Jeanine P. McGuinness provided advice relating to regulatory matters. Menlo Park associate Emma Maconick and New York associate Daniel Ray office provided intellectual property advice. Elizabeth J. Gordon was the legal assistant on the transaction.

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