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. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. Information regarding the identity of the potential participants, and their direct or indirect interests in the transaction, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with SEC in connection with the transaction. The firm has offices in Chicago, Miami and San Francisco. The cybersecurity vendor said its proposed purchase . Learn how to protect your organization from all 13 types of email attacks. 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. 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 SECs website (http://www.sec.gov) or at the Companys website (http://investor.Barracuda.com/) or by writing to the Companys Secretary at 3175 S. Winchester Blvd,Campbell CA95008. This price exceeds Barracuda's 52-week high and represents a premium of 22.5 percent to the Company's 10-day average stock price prior to Nov. 27, 2017, of $22.49. The SKOUT acquisition last year, which added a SOC and XDR capability, was a particularly great acquisition. Complete Web Application and API Protection (WAAP) platform to secure your workloads in the cloud. Participants in the Solicitation The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company's stockholders with respect to the transaction. Deploy simple and scalable security with no software or hardware to install. That deal surfaced in July 2021. [email protected], For Thoma Bravo: Upon the close of the transaction, Barracuda will operate as a privately-held company with a continued focus on email security and management, network and application security, and data protection solutions that can be deployed in cloud and hybrid environments. No credit card is required. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. For more information, visit barracuda.com. Still, Barracudas exact annual revenue and EBITDA profit figures are not currently disclosed. Stop zero-hour and advanced attacks that evade traditional detection techniques. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. Talent Acquisition Manager, MENA. 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. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. For additional information, please visit barracuda.com. Our channel is supremely important to us. There has been an evolution in these PE [private equity] partners, and which is the best fit for a company comes down to where the company is in their lifecycle, said Hatem Naguib, CEO of Barracuda. Learn how Barracuda can help. "Were grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.". Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements, including, but not limited to, statements regarding the potential timing and benefits of a transaction, the value and effectiveness of Barracuda's products, the introduction and timing of product enhancements or additional products, Barracuda's growth, expansion and market leadership and the expected completion and timing of the acquisition transaction and other information relating to the transaction, that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause the actual results to differ materially from those expressed or implied by such forward-looking statements. 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. We believe that Barracuda is at the forefront of innovation in several highly strategic areas of the cybersecurity market and are excited to be the companys partner in the next phase of its growth.. The offer represents a 52% premium to Datto's unaffected stock price of $23.37 as of March 16, 2022. Financial terms were not disclosed. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. Financial terms of the deal were not disclosed, though the deal's valuation was roughly $3.8 billion, according to Silicon Valley Business Journal. How exactly this will roll out at Barracuda is less certain, as employee ownership does not take a one size fits all approach across the KKR portfolio. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. 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. NEW YORK & SAN FRANCISCO - (BUSINESS WIRE)- KKR, a leading global investment firm, today announced the signing of a definitive agreement under which KKR's 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. CAMPBELL, Calif. Thoma Bravo, LLC ., a leading private equity investment firm, today announced that it has completed its acquisition of Barracuda Networks, Inc ., a leading provider of cloud-enabled security and data protection solutions, in an all-cash transaction valued at $1.6 billion. Facebook. This book was released on 1997 with total page 268 pages. The firm has offices in Chicago, Miami and San Francisco. "Were ready to deliver on our next phase of growth with KKR and remain dedicated to investing in our team and product portfolio to provide innovative cybersecurity solutions for our customers and partners," said Hatem Naguib, CEO of Barracuda. Observed Seth Boro, a managing partner at Thoma Bravo: Over the course of Thoma Bravos four-year partnership, Barracuda has solidified its position as an industry leader in cloud-first cybersecurity software. Barracuda Email ProtectionComplete security that stops all 13 email threat types and protects Microsoft 365 data. Required fields are marked *. Goldman Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank are also serving as financial advisors to Thoma Bravo, and Kirkland & Ellis LLP is serving as its legal counsel. 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., Barracuda has built an impressive portfolio of solutions that are helping SMEs around the world protect their data and address critical security challenges, said Bradley Brown, Managing Director at KKR. We see a tremendous opportunity for long-term growth as these businesses continue to invest more in cybersecurity and we look forward to helping Barracuda scale and deliver next generation products that meet this growing need., Over the course of Thoma Bravos four-year partnership, Barracuda has solidified its position as an industry leader in cloud-first cybersecurity software, said Seth Boro, a Managing Partner at Thoma Bravo. Thoma Bravo is one of the largest private equity firms in the world, with more than $103 billion in assets under management as of December 31, 2021. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. Swift and powerful, they are slender in form, with small scales, two well-separated dorsal fins, a jutting lower jaw, and a large mouth with many large, sharp teeth. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Stop API attacks and improve customer experience. CAMPBELL, Calif., Feb. 12, 2018 /PRNewswire/ -- Thoma Bravo, LLC., a leading private equity investment firm, today announced that it has completed. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. in an all-cash transaction valued at$1.6 billion. La reprise se fera sur un produit usag quivalent au produit achet (en termes de fonction et de volume), sur rendez-vous auprs de notre service client. Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov. But MSPs have been a top go-to-market channel for Barracuda since about 2016 or so. This is technology M&A deal number 372 that MSSP Alert and sister site ChannelE2Ehave covered so far in 2022. Barracuda Networks, Inc. recently announced that it has officially completed its acquisition of SKOUT Cybersecurity. On 11February . SKOUT is based in Melville, NY. Outside US: +1 (212) 230-9410 We feel very strong alignment with this, Naguib indicated. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. Your email address will not be published. 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. The investment in Barracuda builds upon KKRs experience investing in the cybersecurity sector globally, with investments including Ping, Cylance, DarkTrace, ForgeRock, NetSPI and Optiv, among others. "From multiple acquisitions to backend improvements, Barracuda has delivered tremendous value to its customers and partners.