AVG Technologies (NYSE: AVG) has agreed to purchase Location Labs, a provider of family mobile phone security. The technology provides insights into phone activity (from texts and calls to app use), allows for controls to be set (such as automatic phone locking) and includes a phone locator feature. Location Labs received about $27 million in venture funding from investors including Intel Capital, Qualcomm Ventures, BlueRun Ventures and Draper Fisher Jurvetson. The deal, which includes $140 million initially with $80 million in cash considerations over the next two years, broadens AVG's position in the mobile security sector. Along with organic growth, it should help the company generate $60 million to $70 million in mobile bookings in 2015.