0001193125-16-715962.txt : 20160921 0001193125-16-715962.hdr.sgml : 20160921 20160921161403 ACCESSION NUMBER: 0001193125-16-715962 CONFORMED SUBMISSION TYPE: SC TO-T/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20160921 DATE AS OF CHANGE: 20160921 GROUP MEMBERS: AVAST SOFTWARE B.V. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AVG Technologies N.V. CENTRAL INDEX KEY: 0001528903 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC TO-T/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87064 FILM NUMBER: 161895774 BUSINESS ADDRESS: STREET 1: GATWICKSTRAAT 9-39 STREET 2: 1043 GL CITY: Amsterdam STATE: P7 ZIP: 00000 BUSINESS PHONE: 31-20-5226210 MAIL ADDRESS: STREET 1: GATWICKSTRAAT 9-39 STREET 2: 1043 GL CITY: Amsterdam STATE: P7 ZIP: 00000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Avast Holding B.V. CENTRAL INDEX KEY: 0001678785 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC TO-T/A BUSINESS ADDRESS: STREET 1: BEZOEKADRES SCHIPOL BOULEVARD 369 STREET 2: TOWER F, 7TH FLOOR CITY: SCHIPOL STATE: P7 ZIP: 1118 BJ BUSINESS PHONE: 420 274 005 607 MAIL ADDRESS: STREET 1: BEZOEKADRES SCHIPOL BOULEVARD 369 STREET 2: TOWER F, 7TH FLOOR CITY: SCHIPOL STATE: P7 ZIP: 1118 BJ SC TO-T/A 1 d436912dsctota.htm AMENDMENT NO. 8 TO SC TO Amendment No. 8 to SC TO

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE TO

Tender Offer Statement under Section 14(d)(1) or 13(e)(1)

of the Securities Exchange Act of 1934

(Amendment No. 8)

 

 

AVG TECHNOLOGIES N.V.

(Name of Subject Company)

AVAST SOFTWARE B.V.

(Name of Filing Persons (Offeror))

AVAST HOLDING B.V.

(Name of Filing Persons (Parent of Offeror))

 

 

Ordinary shares, €0.01 nominal value per share

(Title of Class of Securities)

 

 

N07831105

(CUSIP Number of Class of Securities)

 

 

Avast Holding B.V.

Schiphol Boulevard 369

Tower F, 7th floor

1118 BJ Schiphol

The Netherlands

Attention: Alan Rassaby

+31 20 654 3225

(Name, address and telephone number of person authorized to receive notices and communications on behalf of filing persons)

 

 

with copies to:

 

Ian Bagshaw

Caroline Sherrell

White & Case LLP

5 Old Broad Street

London EC2N 1DW

United Kingdom

+44 20 7532 1000

 

Chang-Do Gong

White & Case LLP

1155 Avenue of the Americas

New York, NY 10036-2787

+1 212 819 8200

 

 

CALCULATION OF FILING FEE

 

Transaction Valuation*   Amount of Filing Fee**
$1,339,391,120   $134,876.69***
* Calculated solely for purposes of determining the filing fee. The calculation of the transaction value is determined by adding the sum of (i) 50,730,029 ordinary shares, with a nominal value of €0.01 per share, of AVG Technologies N.V. multiplied by the offer price of $25.00 per share, (ii) the net offer price for 2,522,480 shares issuable pursuant to outstanding options with an exercise price less than $25.00 per share (which is calculated by multiplying the number of shares underlying such outstanding options by an amount equal to $25.00 minus the weighted average exercise price for such options of $19.73 per share), (iii) 690,000 shares subject to issuance pursuant to restricted stock units multiplied by the offer price of $25.00 per share and (iv) 1,623,877 shares subject to issuance pursuant to outstanding performance-based restricted stock units multiplied by the offer price of $25.00 per share. The foregoing share figures have been provided by the issuer to the offeror and are as of July 25, 2016, the most recent practicable date.
** The filing fee was calculated in accordance with Rule 0-11 under the Securities Exchange Act of 1934, as amended, and Fee Rate Advisory #1 for Fiscal Year 2016, issued August 27, 2015, by multiplying the transaction value by 0.0001007.
*** Previously paid.

 

x Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

Amount Previously Paid: $134,876.69   Filing Party: Avast Software B.V. and
Avast Holding B.V.

  Form or Registration No.: Schedule TO

 

Date Filed: July 29, 2016

 

¨ Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transactions to which the statement relates:

 

  x third-party tender offer subject to Rule 14d-1.
  ¨ issuer tender offer subject to Rule 13e-4.
  ¨ going-private transaction subject to Rule 13e-3.
  ¨ amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer: ¨

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

 

  ¨ Rule 13e-4(i) (Cross-Border Issuer Tender Offer)
  ¨ Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

 

 

 


This Amendment No. 8 (this “Amendment”) amends and supplements the Tender Offer Statement on Schedule TO initially filed with the Securities and Exchange Commission on July 29, 2016 (together with any amendments and supplements thereto, the “Schedule TO”) by Avast Software B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of The Netherlands (“Purchaser”) and a direct wholly owned subsidiary of Avast Holding B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of The Netherlands (“Parent”), and Parent, relating to the offer by Purchaser to purchase all of the outstanding ordinary shares, with a nominal value of €0.01 per share (the “Shares”), of AVG Technologies N.V., a public limited liability company (naamloze vennootschap) organized under the laws of The Netherlands (“AVG”), at a price of $25.00 per share, in cash, without interest and less applicable withholding taxes or other taxes, upon the terms and subject to the conditions set forth in the Offer to Purchase, dated July 29, 2016 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), and in the related letter of transmittal that accompanies the Offer to Purchase, copies of which are attached to the Schedule TO as Exhibits (a)(1)(A) and (a)(1)(B), respectively. Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Offer to Purchase.

All the information set forth in the Offer to Purchase is incorporated by reference herein in response to Items 1 through 9 and Item 11 of this Schedule TO, and is supplemented by the information specifically provided in this Amendment.

 

Item 11. Additional Information.

Item 11 of the Schedule TO is hereby amended and supplemented as follows:

The final sentence of the final paragraph under the caption “Committee on Foreign Investment in the United States” within Section 16 — “Certain Legal Matters; Regulatory Approvals” of the Offer to Purchase is hereby deleted in its entirety. The following sentences are hereby inserted at the end of the final paragraph under the caption “Committee on Foreign Investment in the United States” within Section 16 — “Certain Legal Matters; Regulatory Approvals”:

“On September 20, 2016, the parties received written confirmation from CFIUS that it has completed its review of the transactions contemplated by the Purchase Agreement under FINSA and determined that there are no unresolved national security concerns with respect to the transactions contemplated by the Purchase Agreement. As a result, the CFIUS Clearance Condition has been satisfied. The Offer continues to be subject to other conditions set forth in Section 15 — “Certain Conditions of the Offer” of the Offer to Purchase.”

 

Item 12. Exhibits.

Item 12 of the Schedule TO is hereby amended and supplemented by adding the following exhibit:

 

Exhibit
No.

  

Description

(a)(5)(M)

   Joint Press Release issued by Avast Holding B.V. and AVG Technologies N.V., dated September 21, 2016.


SIGNATURES

After due inquiry and to the best of their knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: September 21, 2016

 

AVAST SOFTWARE B.V.
By:   /s/ Alan Rassaby
 

 

Name:

  Alan Rassaby

Title:

  Managing Director A
By:   /s/ Stefan Boermans
 

 

Name:

  Stefan Boermans

Title:

  Managing Director B
AVAST HOLDING B.V.
By:   /s/ Alan Rassaby
 

 

Name:

  Alan Rassaby

Title:

  Managing Director A
By:   /s/ Stefan Boermans
 

 

Name:

  Stefan Boermans

Title:

  Managing Director B


Exhibit
No.

  

Description

(a)(1)(A)

   Offer to Purchase, dated July 29, 2016.*

(a)(1)(B)

   Letter of Transmittal.*

(a)(1)(C)

   Notice of Guaranteed Delivery.*

(a)(1)(D)

   Letter from the Information Agent to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.*

(a)(1)(E)

   Letter to Clients for Use by Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees.*

(a)(1)(F)

   Summary Advertisement as published in The New York Times on July 29, 2016.*

(a)(2)

   Not applicable.

(a)(3)

   Not applicable.

(a)(4)

   Not applicable.

(a)(5)(A)

   Joint Press Release issued by Avast Holding B.V. and AVG Technologies N.V. on July 7, 2016 (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(B)

   Blog post posted by Avast Holding B.V. on its external website on July 7, 2016 (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(C)

   Frequently Asked Questions issued by Avast Holding B.V. and AVG Technologies N.V. on July 7, 2016 (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(D)

   Email Communication from Avast Holding B.V. and AVG Technologies N.V. to their respective employees sent on July 7, 2016 (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(E)

   Slide Presentation used in connection with a meeting with employees of AVG Technologies N.V. on July 7, 2016 (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(F)

   Tweet from July 7, 2016 by Avast Holding B.V. (@avast_antivirus) (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(G)

   Facebook post from July 7, 2016 by Avast Holding B.V. to the Avast Software Facebook page (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(H)

   LinkedIn post by Avast Holding B.V. from July 7, 2016 to the Avast Software LinkedIn page (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(I)

   Tweet from July 7, 2016 by Avast Holding B.V. (@avast_antivirus) (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 7, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(J)

   Facebook post from July 14, 2016 by Avast Holding B.V. to the Avast Software Facebook page (originally filed with the Securities and Exchange Commission by Avast Holding B.V. on July 15, 2016 on Schedule TO-C, which is incorporated by reference herein).

(a)(5)(K)

   Press Release issued by Avast Holding B.V., dated September 1, 2016.*

(a)(5)(L)

   Press Release issued by Avast Holding B.V., dated September 16, 2016.*

(a)(5)(M)

   Joint Press Release issued by Avast Holding B.V. and AVG Technologies N.V., dated September 21, 2016.

(b)

   Debt Commitment Letter, dated as of July 6, 2016, as amended and restated as of July 28, 2016, by and among Credit Suisse AG, Credit Suisse Securities (USA) LLC, Jefferies Finance LLC, UBS AG, Stamford Branch, UBS Securities LLC, Bank of America Merrill Lynch International Limited, Société Générale and Avast Software B.V.*

(d)(1)

   Purchase Agreement, dated as of July 6, 2016, by and among AVG Technologies N.V., Avast Holding B.V. and Avast Software B.V. (originally filed with the Securities and Exchange Commission by AVG Technologies N.V. on July 7, 2016 as Exhibit 99.1 to the Report of Foreign Private Issuer on Form 6-K, which is incorporated by reference herein).


Exhibit
No.

  

Description

(d)(2)

   Tender Agreement, dated as of July 6, 2016, by and among TA X L.P., TA Atlantic and Pacific VI L.P., TA Strategic Partners Fund II L.P., TA Strategic Partners Fund II-A L.P., TA Investors III L.P., Avast Holding B.V. and Avast Software B.V.*

(d)(3)

   Tender Agreement, dated as of July 6, 2016, by and among CVP II, Inc., Avast Holding B.V. and Avast Software B.V.*

(d)(4)

   Confidentiality Agreement, dated as of May 28, 2016, by and between AVG Technologies N.V. and Avast Holding B.V.*

(d)(5)

   Exclusivity Agreement, dated as of June 16, 2016, by and between AVG Technologies N.V. and Avast Holding B.V.*

(g)

   Not applicable.

 

* Previously filed.
EX-99.(A)(5)(M) 2 d436912dex99a5m.htm EX-99.(A)(5)(M) EX-99.(A)(5)(M)

Exhibit (a)(5)(M)

 

LOGO    Press Release

Avast receives all regulatory approvals for proposed acquisition

Redwood City, California / Amsterdam, The Netherlands, September 21, 2016—Avast Software B.V. today announced that it has received written confirmation from the Committee on Foreign Investment in the United States (“CFIUS”) that CFIUS has completed its review of Avast’s proposed acquisition of AVG Technologies N.V. (NYSE: AVG) and determined that there are no unresolved national security concerns with respect to such acquisition. As previously announced, the United States Federal Trade Commission granted early termination of the waiting period applicable to the tender offer under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, Germany’s Federal Cartel Office granted clearance of the tender offer, and the required waiting period under the Austrian Cartel Act expired. As a result, all requisite antitrust and regulatory approvals in connection with Avast’s pending tender offer to purchase all of the outstanding ordinary shares of AVG for $25.00 in cash have been obtained.

Avast expects to complete the tender offer promptly following the expiration of the tender offer, which is currently scheduled to expire at 11:59 p.m., New York City time, on September 29, 2016, subject to the satisfaction of the other conditions set forth in the Offer to Purchase dated July 29, 2016, as amended.

About Avast

Avast Software (www.avast.com), maker of the most trusted mobile and PC security in the world, protects 230 million people and businesses with its security applications. In business for over 25 years, Avast is one of the early innovators in the security business, with a portfolio that includes security and privacy products for PC, Mac, Android and iOS, and premium suites and services for business. In addition to being top-ranked by consumers on popular download portals worldwide, Avast is certified by, among others, VB100, AV-Comparatives, AV-Test, OPSWAT, ICSA Labs, and West Coast Labs. Avast is backed by leading global private equity firms CVC Capital Partners and Summit Partners.

About AVG (NYSE: AVG)

AVG is the leading provider of software services to secure devices, data and people. AVG’s award-winning consumer portfolio includes internet security, performance optimization, location services, data controls and insights, and privacy and identity protection, for mobile devices and desktops. The award-winning AVG Business portfolio, delivered through a global partner network, provides cloud security and remote monitoring and management (RMM) solutions that protect small and medium businesses around the world. For more information visit www.avg.com.

Forward-Looking Statements

This press release contains forward-looking information that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of the federal securities laws, and involve a number of risks and uncertainties. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “are confident that,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “would” or the negative of these terms or other comparable terms. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include risks and uncertainties related to, among other things: general economic conditions and conditions affecting the industries in which Avast and AVG operate; the uncertainty of regulatory approvals; the parties’ ability to satisfy the conditions to the contemplated tender offer and consummate the transactions described in this press release; and AVG’s performance and maintenance of important business relationships. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in AVG’s filings with the Securities and Exchange Commission (“SEC”), including AVG’s Annual Report on Form 20-F for the year ended December 31, 2015. These forward-looking statements speak only as of the date of this release and neither Avast nor AVG assumes any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.

Additional Information and Where to Find It

This press release does not constitute an offer to purchase or a solicitation of an offer to sell any securities of AVG. The solicitation and offer to purchase ordinary shares of AVG is being made pursuant to a tender offer statement on Schedule TO, including an Offer to Purchase, a related letter of transmittal and certain other tender offer documents, filed by Avast with the SEC on July 29, 2016 (as subsequently amended, the “Tender Offer Statement”). AVG filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer with the SEC on July 29, 2016 (as subsequently amended, the “Solicitation/Recommendation Statement”). AVG shareholders are urged to read the Tender Offer Statement and Solicitation/Recommendation Statement, as they may be amended from time to time, as well as any other relevant documents filed with the SEC, carefully and in their entirety because they will contain important information that AVG shareholders should consider before making any decision


regarding tendering their securities. The Tender Offer Statement and the Solicitation/Recommendation Statement are available for free at the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by AVG will be available free of charge on AVG’s website at investors.avg.com.

Contacts

Avast Software

Marina Ziegler

PR & Communications Director

ziegler@avast.com

+49-(0)89-3815331-17

AVG Technologies

Erin Nelson

VP, Brand & Content, Communications

erin.nelson@avg.com

+1-917-843-1322

Bonnie McBride

Investor Relations

bonnie.mcbride@avg.com

+1-415-806-0385

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