AVG Technologies search partnerships likely intact, says JPMorgan

theflyonthewall.com

JPMorgan attributes yesterday's pullback in shares of AVG Technologies (AVG) to concerns over search provider pricing as well as the company's relationship with Google (GOOG) after news outlets reported that the search giant decided not to renew a contract with Babylon Software. JPMorgan believes AVG's contract requires that Google provide 60 days notice annually should it desire to cancel the contract. The firm thinks the deadline for this was October 1, 2013, and notes that AVG would have had to disclose the news should Google opted to cancel.

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