Although general market pressure pushed AVG Technologies stock down 19% on the initial day of trading, this was not due to their business model which has very healthy margins at 50%. AVGs management felt confident that their growth potential is still very high and theyre just at the beginning of the runway. M&A was not in their immediate future, but now as a public company they will use those funds to drive acquisitions for further expansion. With good brand awareness and 160m users, their CEO is excited about the large number of small security companies and the opportunity to acquire them and gain immediate presence on a very global scale. In addition to expanding their footprint through additional platforms and geographies, they return to their thesis of better protecting their customers. With the RSA conference next week, M&A will certainly be a trending topic for the small to medium sized companies participating there. Feel free to reach out to us if you will be there as well and would like to meet over coffee.