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Panda Security Acquires Canadian Franchise And Continues International Expansion

Company also opens new franchises in Europe, Asia and Latin America in 2010; now present in 61 countries
ORLANDO, Fla., Nov. 30, 2010 /PRNewswire/ -- Panda Security, the Cloud Security Company, today announced that it has acquired its exclusive distributor in Canada, continuing to propel the company's strategic international expansion and consolidation efforts. Since Investindustrial and other financial partners acquired the company in 2007, Panda Security has purchased eight of its franchises operating in key markets. The Canadian acquisition makes this the 14th subsidiary that the company wholly-owns, including offices in Austria, Brazil, Germany, Belgium, China, Spain, Finland, France, Holland, Japan, Sweden, UK and the USA.

Thus far in 2010, Panda has opened new franchises in Asia (Indonesia and Singapore); Latin America (Ecuador, Honduras, Nicaragua and Panama); and the Balkans (Malta and Romania). This expansion results in offices or franchises in