barracuda acquisition
Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. Barracuda went public on the New York Stock Exchange (NYSE) in late 2013, pricing its IPO at $18 and raising $75 million in the process. With this acquisition, Barracuda is providing distributed businesses a new way to modernize remote access, enforce global security and access policies and achieve seamless connectivity without . About Barracuda Networks, Inc. (NYSE: CUDA) Barracuda simplifies IT with cloud-enabled solutions that empower customers to protect their networks, applications and data, regardless of where they reside. Barracuda has announced future discontinuation of its Copy and CudaDrive services as of May 2016. Megan Frank "From multiple acquisitions to backend improvements, Barracuda has delivered tremendous value to its customers and partners. 2016 - 20182 . Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold. Founded in 2003, Barracuda is the developer of cybersecurity solutions,. This isn't ION's first acquisition in the FX realm. The Edge DR Tech Sections Close Back Sections Featured Sections The Edge Dark Reading Technology. At Barracuda we strive to make the world a safer place. ", "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. 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. Getting started is easy. The firm has offices in Chicago, Miami and San Francisco. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Your email address will not be published. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. More information about Thoma Bravo can be found atwww.thomabravo.com. Twitter. Financial terms were not disclosed. Learn how Barracuda can help. 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 believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. Mar 2021 - Present2 years 1 month. barracuda.substack.com. Barracuda intends all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. 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. Protect patient data and avoid disruptions that could affect patient care. Barracuda's Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. NEW YORK & SAN FRANCISCO, August 16, 2022--(BUSINESS WIRE)--KKR, a leading global investment firm, and Barracuda Networks, Inc. ("Barracuda" or the "Company") a leading provider of cloud-first security solutions, today announced that KKRs investment funds have completed an acquisition of Barracuda from Thoma Bravo, a leading software investment firm. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers journey. Financial terms were not disclosed. Barracuda Networks has been acquired by KKR, an investment outfit taking the company over from past owner Thoma Bravo. Enter a Master Password for the Barracuda Network Access Client. Cautionary Statement Regarding Forward-Looking StatementsThis 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 Barracudas products, the introduction and timing of product enhancements or additional products, Barracudas 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. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. LiveVox continues to build out fledgling channel strategy with launch of ACTivate channel program, Pax8, AWS sign distribution deal to bring AWS into Pax8 solutions , Sage ramps up automation of Sage Intacct solution, Pure Storage tackles broad sub-$0.20 per GB disk market with FlashBlade//E, Aptum sees strong channel opportunities in new Multi-Tenant Cloud Solution, Zero-Trust vendor Cyolo restructures partner program, Salt Security enhances certification and training capabilities with Essential Partner Certification Program, Startup Entitle comes out of stealth with novel SaaS-based cloud permissions management platform solution. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. 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. 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. The SKOUT acquisition last year, which added a SOC and XDR capability, was a particularly great acquisition. Discovery Company profile page for Herzog Technologies, Inc. including technical research,competitor monitor,market trends,company profile& stock symbol Still, Barracudas exact annual revenue and EBITDA profit figures are not currently disclosed. Deploy simple and scalable security with no software or hardware to install. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Under the terms of the agreement, Datto stockholders will receive $35.50 per share in a transaction that values Datto at approximately $6.2 billion. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. from 8 AM - 9 PM ET. These powerful, easy-to-use and affordable solutions are trusted by more than 150,000 organizations worldwide and are delivered in appliance, virtual appliance, cloud and hybrid deployment configurations. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. 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. Concluded Chip Virnig, a partner at Thoma Bravo: We are proud to have supported Barracuda to innovate and grow its security solutions portfolio, expand its customer base and achieve considerable operational improvements and revenue growth. Additional Information and Where to Find It In connection with the transaction, the Company will file relevant materials with the SEC, including a preliminary proxy statement on Schedule 14A. KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. 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 transaction is anticipated to close by the end of the year, subject to customary conditions. While Barracuda's 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 Barracuda's current stage of the growth cycle. Thoma Bravo acquired Barracuda in 2018 in a $1.6 billion cash deal. THREAT PREVENTION Spam, Malware, and Advanced Threat Protection Phishing and Impersonation Protection Account Takeover Protection Domain Fraud Protection Web Security Zero Trust Access for Microsoft 365 . 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. 2003 - 2022 Barracuda Networks, Inc. All rights reserved. For more information, visit www.thomabravo.com. At Barracuda we strive to make the world a safer place. CAMPBELL, Calif. 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. We are seeking talented, motivated sales performers who thrive in quick sales cycle environment. 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. 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. Actual results may differ materially from those projected in such statements due to various factors, including, but not limited to, (i) the risk that the transaction may not be consummated in a timely manner, if at all; (ii) the risk that the transaction may not be consummated and that, in certain circumstances, the Company may not be entitled to a termination fee; (iii) the risk that the definitive merger agreement may be terminated in circumstances that require the Company to pay a termination fee; (iv) risks related to the diversion of managements attention from the Companys ongoing business operations; (v) risks regarding the failure of the relevant Thoma Bravo affiliate to obtain the necessary financing to complete the transaction; (vi) the effect of the announcement of the transaction on the Companys business relationships (including, without limitation, customers and suppliers), operating results and business generally; and (vii) risks related to obtaining the requisite consents to the transaction, including, without limitation, the timing (including possible delays) and receipt of regulatory approvals from various domestic and foreign governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval. 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. Or call us now at Select your mail server* Office 365 Microsoft Exchange Other SMTP Mail Server Email* Phone* First Name* Last Name* Company Name* Country* State/Province* Zip/Postal Code* Facsimile: +1 (212) 750-0003 SKOUT provides Cyber as a Service software for Managed Service Providers (MSPs), as well as an extended detection and response (XDR) platform and service. Financial services are a prime target for cyber attacks. 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. 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. Barracuda generates more than $500 million in annual revenue, the buyer indicated. View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005856/en/, For Barracuda Networks:Jonelle Elam408-813-7762jelam@barracuda.com, For KKR:Julia Kosygina212-750-8300media@kkr.com, For Thoma Bravo:Megan FrankThoma Bravomfrank@thomabravo.com 212-731-4778, Nicky BryanFinsbury Glover Hering646-436-6126Nicky.bryan@fgh.com, https://www.businesswire.com/news/home/20220412005856/en/, Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, UPDATE 1-Bankman-Fried can have flip phone, limited internet while on bail, US proposes, China's economy, government revamp in focus as parliament set to open, The U.S. government is turning up the heat on TikTok here's the latest, Bankman-Fried can have flip phone, limited internet while on bail, US proposes. 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. 408-813-7762 References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. . At Barracuda we strive to make the world a safer place. NEW YORK & SAN FRANCISCO(BUSINESS WIRE) At Barracuda, we make the world a safer place. We want to work very closely with them, and Barracuda wants to be their preferred vendor., New Years Podcast Series: Bob Bonneau of ESET Canada, Understanding innovation as a large, well-established enterprise, New Years Podcast Series: Frank Colletti of N-able, New Years Podcast Series: Zack Dickson of Cisco Canada. 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.. Actual results may differ materially from those projected in such statements due to various factors, including, but not limited to, (i)the risk that the transaction may not be consummated in a timely manner, if at all; (ii)the risk that the transaction may not be consummated and that, in certain circumstances, the Company may not be entitled to a termination fee; (iii)the risk that the definitive merger agreement may be terminated in circumstances that require the Company to pay a termination fee; (iv)risks related to the diversion of management's attention from the Company's ongoing business operations; (v)risks regarding the failure of the relevant Thoma Bravo affiliate to obtain the necessary financing to complete the transaction; (vi)the effect of the announcement of the transaction on the Company's business relationships (including, without limitation, customers and suppliers), operating results and business generally; and (vii)risks related to obtaining the requisite consents to the transaction, including, without limitation, the timing (including possible delays) and receipt of regulatory approvals from various domestic and foreign governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval. There are different types of equity plans, and the plans can be different, even with KKR, Naguib said. ", "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. Copyright 2013 ChannelBuzz.ca. Spam, Malware, and Advanced Threat Protection, Email Encryption and Data Loss Prevention, Accelerate and secure cloud migrations with, Boost application performance and reduce costs with, Simplify and secure remote access by enabling Zero Trust for any device with, Secure your internet-connected devices with. 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. 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 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. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. The company's shares hit a high of around $45 in 2015, and. The forward-looking statements included in this press release represent Barracudas views as of the date of this press release. 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. About Barracuda Networks, Inc. (NYSE:CUDA)Barracuda simplifies IT with cloud-enabled solutions that empower customers to protect their networks, applications and data, regardless of where they reside. The Barracuda acquisition is expected to close by the end of 2022, KKR indicated. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers . View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005239/en/, For Barracuda Networks:Jonelle Elam408-813-7762jelam@barracuda.com, For KKR:Julia Kosygina212-750-8300media@kkr.com, For Thoma Bravo:Thoma Bravo CommunicationsMegan Frank(212)-731-4778mfrank@thomabravo.com, FGS Global:Nicky Bryan(646)-436-6126nicky.bryan@fgsglobal.com, https://www.businesswire.com/news/home/20220816005239/en/, Death toll in strike on Ukraine's Zaporizhzhia rises to 11 - officials, UPDATE 1-Bankman-Fried can have flip phone, limited internet while on bail, US proposes, China's economy, government revamp in focus as parliament set to open, The U.S. government is turning up the heat on TikTok here's the latest, Bankman-Fried can have flip phone, limited internet while on bail, US proposes. Teamwork at Barracuda is the key to everything we do and why we succeed. 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. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. "Were grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.". 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.
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