CAMPBELL, Calif., July 13, 2021 /PRNewswire/ -- Barracuda Networks, Inc. , a trusted partner and leading provider of cloud-enabled security solutions, today announced it has completed its. Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. Headquartered in Stockholm, the development and the manufacturing is undertaken in Linkping.Saab produced automobiles from 1947 until 1990 when the automobile division was spun off as Saab Automobile, a joint venture with General Motors. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. Barracuda undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. 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. Shareholders to Receive $27.55 per Share in Cash. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. To the extent the Company's directors and executive officers' holdings of the Company's securities have changed since the amounts printed in the Company's proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. 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. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. The offer represents a 52% premium to Datto's unaffected stock price of $23.37 as of March 16, 2022. More information about Thoma Bravo can be found atwww.thomabravo.com. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Hatem Naguib, CEO of Barracuda. 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. Financing for the transaction is being provided by Goldman Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank. Barracudas are found in all warm and tropical regions; some also range into more temperate areas. Barracuda will implement KKRs broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. Protect your physical locations with cloud-connected appliances and software that can be deployed on premises or in the cloud. media@kkr.com, For Thoma Bravo: 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. Thoma Bravo to Acquire ABC Financial Services, Inc. Magazine Premium created by c.bavota. 4 ways Barracuda's acquisition of SKOUT Cybersecurity will help MSPs 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. Barracuda has announced future discontinuation of its Copy and CudaDrive services as of May 2016. Herzog Technologies, Inc.:Acquisition,Acquisition Analysis & Reports Accept the License Agreement, and click Next. Datto to be Acquired by Kaseya for $6.2 Billion, with Funding Led by jelam@barracuda.com, For KKR: J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. in an all-cash transaction valued at $1.6 billion. Apply to Closer, Junior Account Manager, Software Consultant and more! Protect data wherever it resides to minimize downtime and prevent data loss. The transaction is expected to close by the end of the year, so obviously nothing will happen until then, but Naguib said that partners shouldnt expect any unpleasant surprises when the deal does go through. KKR to Acquire Barracuda Networks - Kohlberg Kravis Roberts Article | Barracuda Networks We expect that the acquisition strategy under KKR will be similar to what it has been, Naguib said. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. At Barracuda we strive to make the world a safer place. Barracudas Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. Under Thoma, Barracuda made acquisitions, although not as many as some companies who pursued an ultra-aggressive strategy in that regard. 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. But MSPs have been a top go-to-market channel for Barracuda since about 2016 or so. Job ID: 23-831. 2022 Kohlberg Kravis Roberts & Co. L.P. All Rights Reserved. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. "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. Your email address will not be published. KKR Completes Acquisition of Barracuda from Thoma Bravo - Yahoo! The transaction is anticipated to close by the end of the year, subject to customary conditions. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers journey. 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. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. 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. mfrank@thomabravo.com More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. This is technology M&A deal number 372 that MSSP Alert and sister site ChannelE2Ehave covered so far in 2022. The sale of the company by Thoma Bravo to KKR means much more than simply changing the name on the front of the cheque, however. in an all-cash transaction valued at$1.6 billion. We believe the proposed transaction offers an opportunity for us to accelerate our growth with our industry-leading security platform thats purpose-built for highly distributed, diverse cloud and hybrid environments. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. From multiple acquisitions to backend improvements, Barracuda has delivered tremendous value to its customers and partners., 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, said Chip Virnig, a Partner at Thoma Bravo. Barracuda Networks Acquired: KKR Buys Security Company From Thoma Bravo "With this acquisition, Barracuda is providing distributed businesses a new way to modernise remote access, enforce global security and access policies, and achieve seamless connectivity without . For more information, visit barracuda.com. KKR Completes Acquisition of Barracuda from Thoma Bravo Barracuda Networks - Crunchbase Company Profile & Funding (eBook/PDF) Challenger And Barracuda Restoration Guide 1967 74 Online Broadway Acquires Barracuda FX, Strengthens Senior FX Team Barracuda hiring Manager, Technical Support in Bengaluru, Karnataka Barracuda has since grown into a business that generates over $500 million in annual revenue, KKR said. 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. 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. 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. KKR to buy cybersecurity firm Barracuda from Thoma Bravo in - Reuters The firm has offices in Chicago, Miami and San Francisco. This fast-paced role is focused on growing our Small to Midsize Business (SMB) customer base through expansion and acquisition of net-new customers. What Managed Workplace's acquisition means for MSPs - Smarter MSP 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.
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