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AVAST To Seek An IPO In 2018

November 10, 2017 by  
Filed under Around The Net

AV outfit Avast has hired Rothschild to prepare the business for an initial public offering (IPO) which could value the firm at as much as $4 billion.

CVC Capital Partners, which took control of the Prague-based company in 2014, could seek a London listing for Avast in the first half of next year if market conditions allow.

If successful, Avast’s float would represent the largest ever UK technology IPO. However it would have to navigate a tough market, which has seen a number of planned London listings pulled in recent weeks.

CVC hired Rothschild after talking to a series of banks as part of a contest in October, the sources said, adding Rothschild will carry out the preliminary work for the deal which includes the selection of global coordinators and bookrunners.

Avast, which previously attempted to float on Nasdaq in 2012, has Summit Partners among its minority investors alongside Czech entrepreneurs Pavel Baudiš and Eduard Kuera who founded the company in 1991.

Courtesy-Fud

Researchers Uncover Android Ransomware That Changes PIN Codes

September 14, 2015 by  
Filed under Mobile

Researchers at security company ESET have uncovered a type of malware that changes an Android device’s PIN, the first of its kind in a constantly changing landscape of ransomware attacks.

For most users, the only option to get rid of the malware is to reset the phone to its factory settings, which unfortunately also deletes all the data on the device.

The malware calls itself “Porn Droid” and bills itself as a viewer for adult content. It has been seen only on third-party Android application marketplaces or forums for pirated software, wrote Lukas Stefanko, an ESET malware analyst.

But after it’s installed, users see a warning supposedly from the FBI that they’ve allegedly viewed “prohibited pornography.” It asks for a $500 fine to be paid within three days.

To change the device’s PIN, Porn Droid needs administrator-level access to the phone.  Stefanko wrote that the malware uses a new method to obtain that high level of access.

When Porn Droid runs, it asks people to click a button. “After clicking on the button, the user’s device is doomed,” Stefanko wrote. “The Trojan app has obtained administrator rights and now can lock the device. And even worse, it sets a new PIN for the lock screen.”

Other kinds of Android malware locked the screen by keeping the ransonware warning in the foreground using an infinite loop. But that could be remedied by using a command-line tool, the Android debug bridge, or deactivating admin rights in Safe Mode, according to Stefanko.

In the case of Porn Droid, if someone tries to deactivate the admin privileges, the malware uses a call-back function to reactivate them, Stefanko wrote.

The malware is also coded to try to shut down three mobile antivirus products: Dr. Web, ESET’s Mobile Security and Avast.

More advanced users may be able to get rid of Porn Droid without resetting and erasing all data on their phone. It is possible to remove the malware if a user has root privileges to the device, and some security software can stop it, Stefanko wrote.