In 2005, Panda Security was the fourth largest antivirus vendor worldwide, with 3.2% of the marketplace. In November 2015 OPSWAT measured Panda Security's market share to be 3.6%. The company, whose shares were previously 100% held by Mikel Urizarbarrena, announced on 24 April 2007 the sale of 75% of its shares to Southern European investment group Investindustrial and private equity firm Gala Capital. On 30 July 2007 the company changed its name from Panda Software to Panda Security and Urizarbarrena was replaced by Jorge Dinares. Almost one year later, on 3 June 2008, amidst flagging sales, the board of directors voted to replace Dinares with Juan Santana, the CEO. Santana resigned in September 2011 and was replaced by José Sancho as acting CEO.