Thoma invested in us and reset how we went to market, reset the back end to the cloud, and upgraded our portfolio. In todays deal announcement, neither KKR nor Barracuda mentioned Barracudas long-established MSP partner strategy. We are very pleased with the results of our acquisition strategy. Teamwork at Barracuda is the key to everything we do and why we succeed. [32] In February 2018 Thoma Bravo announced that it has completed the acquisition. Leveraging the firms deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. KKR will provide resources and expertise to further accelerate the Companys growth and support its strategic expansion in key areas, including managed detection and response, extended detection and response, and secure access service edge technology. Shareholders to Receive $27.55 per Share in Cash. Discovery Company profile page for Herzog Technologies, Inc. including technical research,competitor monitor,market trends,company profile& stock symbol Thoma Bravo has an excellent history of investing in growing security businesses, and this transaction speaks to the value and strength of Barracudas security platform, which helps customers protect and manage their networks, applications, and data. Thoma Bravo to Acquire ABC Financial Services, Inc. The firm currently manages a series of private equity and debt funds representing more than $17.0 billion of capital commitments. Outside US: +1 (212) 230-9410 We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Promptly after filing its definitive proxy statement with the Securities and Exchange Commission (the SEC), the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the merger. The proposed transaction is expected to close before Barracuda's fiscal year end of Feb. 28, 2018, and is subject to approval by Barracuda's shareholders and regulatory authorities, and the satisfaction of other customary closing conditions. Browse our security and network solutions designed specifically for AWS. Added John Park, head of Americas Technology Private Equity at KKR: We continue to see cybersecurity as a highly attractive sector and are excited to back a clear leader in the space. Barracuda Networks, Inc. recently announced that it has officially completed its acquisition of SKOUT Cybersecurity. Financing for the transaction is being provided by Goldman Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank. Learn how Barracuda can help. While Barracudas acquisition in 2013 by Thoma Bravo helped the company a lot in transforming itself into a cloud-first company with a modern comprehensive portfolio, they think KKR is even better situated to Barracudas current stage of the growth cycle. Protect students and faculty from ransomware and other cyber attacks. While Thoma helped Barracuda transform into a modern cloud company, KRR is expected to support an aggressive expansion strategy which will benefit both the company and its channel partners. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. Check out our security products for Google Cloud Platform. More than 200,000 organizations worldwide trust Barracuda to protect them in ways they may not even know they are at risk so they can focus on taking their business to the next level. "Thoma Bravo has an excellent history of investing in growing security businesses, and this transaction speaks to the value and strength of Barracuda's security platform, which helps customers protect and manage their networks, applications, and data. The proposed transaction is expected to close before Barracudas fiscal year end ofFeb. 28, 2018, and is subject to approval by Barracudas shareholders and regulatory authorities, and the satisfaction of other customary closing conditions. Learn how to protect your organization from all 13 types of email attacks. Complete Web Application and API Protection (WAAP) platform to secure your workloads in the cloud. Get started in minutes. To the extent the Companys directors and executive officers holdings of the Companys securities have changed since the amounts printed in the Companys proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. 2003 - 2022 Barracuda Networks, Inc. All rights reserved. Stop API attacks and improve customer experience. Campbell, California, United States. Hello, everyone, and welcome to Zoom's Q4 FY '23 Earnings Release Webinar. See more than 1,000 technology M&A deals listed here, buying Skout Cybersecurity for MSP-focused security operations center capabilities, Top 250 Managed Security Services Providers (MSSP) Company List, Top 40 Managed Detection and Response (MDR) Company List, MSSP M&A List: 100+ Managed Security Buyers, Sellers and Investors. Financial terms were not disclosed. We are very appreciative of Thoma Bravos support and very excited to be working with KKR on this next phase of Barracudas journey., We continue to see cybersecurity as a highly attractive sector and are excited to back a clear leader in the space, said John Park, Head of Americas Technology Private Equity at KKR. Barracudas customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data protection. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "predicts," "plan," "expects," "focus," "anticipates," "believes," "goal," "target," "estimate," "potential," "may," "will," "might," "momentum," "can," "could," "seek," and similar words. The definitive proxy statement, the preliminary proxy statement and other relevant materials in connection with the transaction (when they become available), and any other documents filed by the Company with the SEC, may be obtained free of charge at the SEC's website (http://www.sec.gov) or at the Company's website (http://investor.Barracuda.com/) or by writing to the Company's Secretary at 3175 S. Winchester Blvd, Campbell CA 95008. Email. This book was released on 1997 with total page 268 pages. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. https://www.businesswire.com/news/home/20220412005856/en/. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers . Telephone: +1 (877) 610-4910 Complete security that stops all 13 email threat types and protects Microsoft 365 data. Founded in 2003, Barracuda offers a broad suite of cybersecurity solutions across email protection, application security, network security and data protection that can be deployed and managed in both cloud and hybrid environments. This press release features multimedia. Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. About Thoma Bravo, LLCThoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. in an all-cash transaction valued at$1.6 billion. Weve been thrilled with the team we got with that. Managed detection and response [MDR] extended detection and response [XDR], and secure access service edge [SASE] technology will be the focus of these acquisition efforts going forward. CAMPBELL, Calif., July 13, 2021 Barracuda Networks, Inc. , a trusted partner and leading provider of cloud-enabled security solutions, today announced it has completed its acquisition of SKOUT Cybersecurity, a Melville, NY-based leader in cyber-as-a-service software for Managed Service Providers (MSPs) and provider of an extended detection and For more information, visit www.thomabravo.com. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. This site uses cookies to provide you with a more responsive and personalized service. Magazine Premium created by c.bavota. CAMPBELL, Calif., Nov. 27, 2017 /PRNewswire/ -- Barracuda Networks, Inc. (NYSE: CUDA), a leading provider of cloud-enabled security and data protection solutions, today announced that it has entered into an agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC. KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. "We are excited to complete this transaction and begin working with the Barracuda team to support their continued growth and delivery of next generation cloud-first cybersecurity solutions that protect SMEs from an evolving landscape of threats," said John Park, a Partner at KKR. At Barracuda, we make the world a safer place. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. We are seeking talented, motivated sales performers who thrive in quick sales cycle environment. Barracuda generates more than $500 million in annual revenue, the buyer indicated. Barracuda values partnership. Protect websites and apps from advanced cyber-threats. NEW YORK & SAN FRANCISCO, April 12, 2022--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the signing of a definitive agreement under which KKRs investment funds will purchase Barracuda Networks Inc. ("Barracuda" or "the Company"), a leading provider of cloud-first security solutions, from Thoma Bravo, a leading software investment firm. If a change occurs, KKRs business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. KKR, a leading global investment firm, today announced the signing of a definitive agreement under which KKRs investment funds will purchase Barracuda Networks Inc. (Barracuda or the Company), a leading provider of cloud-first security solutions, from Thoma Bravo, a leading software investment firm. Available in PDF, EPUB and Kindle. Megan Frank Rumors about Barracuda being up for sale have hit MSSP Alerts email inbox multiple times in recent weeks. For more information, visit www.thomabravo.com. Subscribe to the daily e-mail newsletter from ChannelBuzz.ca and get the latest Canadian channel news delivered to your desktop every weekday morning. We believe that with the support of KKR, we will continue to invest in growth and foster a culture that gives our team the resources and inspiration to continue to create and deliver the next generation of leading cybersecurity solutions for our customers and partners, said Hatem Naguib, CEO of Barracuda. Its the same company, he said. You can also subscribe without commenting. BARRACUDA ACQUISITIONCO, INC. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. We feel very strong alignment with this, Naguib indicated. Terms of the deal were not disclosed, as Barracuda is a private company. By using this site you agree to our use of cookies. KKR to Acquire Barracuda Networks The transaction is anticipated to close by the end of the year. "Barracuda has been a tremendous partner over the last four years and has experienced strong product, customer and revenue growth," said Chip Virnig, a Partner at Thoma Bravo. For more information, visit www.thomabravo.com. Given its proven track record of growth and innovation, we believe that Barracuda has the right team and model to capture business in this growing market.. During Thoma Bravos ownership, Barracuda expanded and enhanced its product suite, implemented best-in-class operational processes and successfully executed a number of strategic acquisitions, which together propelled the Company to profitable and accelerating growth at over $500mm of revenue and enabled more customers to comprehensively protect their employees, applications, networks and data. Talent Acquisition Specialist jobs 2,414 open jobs Director of Education jobs 1,408 open jobs Estate Manager jobs 1,098 open jobs . KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Accept the License Agreement, and click Next. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. Leveraging the firms deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. ", "We continue to see cybersecurity as a highly attractive sector and are excited to back a clear leader in the space," said John Park, Head of Americas Technology Private Equity at KKR. The firm currently manages a series of private equity and debt funds representing more than$17.0 billionof capital commitments. This isn't ION's first acquisition in the FX realm. Barracudas Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. in an all-cash transaction valued at $1.6 billion. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Financial terms of the deal were not disclosed, though the deal's valuation was roughly $3.8 billion, according to Silicon Valley Business Journal. The Managed Workplace acquisition is part of a larger MSP-centric partner strategy that extends all the from Barracuda CEO BJ Jenkins' office to the company's boardroom, ChannelE2E believes. NEW YORK, NY and SAN FRANCISCO, CA April 12, 2022 KKR, a leading global investment firm, today announced the signing of a definitive agreement under which KKRs investment funds will purchase Barracuda Networks Inc. (Barracuda or the Company), a leading provider of cloud-first security solutions, from Thoma Bravo, a leading software investment firm. The forward-looking statements included in this press release represent Barracudas views as of the date of this press release. We believe that with the support of KKR, we will continue to invest in growth and foster a culture that gives our team the resources and inspiration to continue to create and deliver the next generation of leading cybersecurity solutions for our customers and partners, said Hatem Naguib, CEO of Barracuda. KKR buys Barracuda Networks from private equity firm Thoma Bravo. Apply to Closer, Junior Account Manager, Software Consultant and more! Envision yourself at Barracuda! Barracuda execs say that the BitLeap acquisition fits into the company's existing business model and SMB target market segment as it continues its current expansion into the storage arena . That deal surfaced in July 2021. We are very appreciative of Thoma Bravos support and very excited to be working with KKR on this next phase of Barracudas journey., We continue to see cybersecurity as a highly attractive sector and are excited to back a clear leader in the space, said John Park, Head of Americas Technology Private Equity at KKR. Promptly after filing its definitive proxy statement with the Securities and Exchange Commission (the "SEC"), the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the merger.