e-mail. Barracuda 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 response (XDR) platform and service. Barracuda Agrees To Be Acquired By Thoma Bravo For $1.6 Billion NEW YORK & SAN FRANCISCO-- ( BUSINESS WIRE )--KKR, a leading global investment firm, and Barracuda Networks, Inc. ("Barracuda" or the "Company") a leading provider of cloud-first security. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. Hatem Naguib, CEO of Barracuda. 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 We look forward to watching Barracudas continued success.. 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. The companies didn't disclose terms of the deal, but sources familiar with it said that KKR would be paying nearly $4 . 2003 - 2022 Barracuda Networks, Inc. All rights reserved. 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. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. Fill out this form to get a full-featured version of Barracuda Cloud-to-Cloud Backup free for 14 days. Barracuda completes acquisition of SKOUT Cybersecurity Barracuda | LinkedIn 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. Please read our cookie notice for more information on the cookies we use and how to delete or block them. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. in an all-cash transaction valued at $1.6 billion. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. No credit card is required. 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. If configured, it is required to shut down the NAC Client and make certain configuration changes. Megan Frank Barracuda Agrees To Be Acquired By Thoma Bravo For $1.6 Billion The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKRs business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKRs competition. 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 to Acquire Intronis, Inc | Barracuda MSP For more information, visit www.thomabravo.com. Under the program they have been driving, universal equity becomes part of what they share with everyone from lower level employees up to managers and senior level people.. This fast-paced role is focused on growing our Small to Midsize Business (SMB) customer base through expansion and acquisition of net-new customers. More than 220,000 global customers trust Barracuda to safeguard their employees, data, and applications from a . The transaction is anticipated to close by the end of the year, subject to customary conditions. [] Security business Barracuda Networks acquired for $1.6 billion. Still, Barracudas exact annual revenue and EBITDA profit figures are not currently disclosed. All forward-looking statements speak only as of the date they are made. Barracuda anticipates that subsequent events and developments will cause its views to change. 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 the proposed transaction offers an opportunity for us to accelerate our growth with our industry-leading security platform that's purpose-built for highly distributed, diverse cloud and hybrid environments. At Barracuda, we make the world a safer place. media@kkr.com, For Thoma Bravo: Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. For Thoma Bravo Matthew Gorton Hiltzik Media Strategies +1 212-776-1161 [emailprotected], For Barracuda MC Petermann +1 404-307-6290 [emailprotected], Maria Riley +1 415-217-7722 [emailprotected], Cision Distribution 888-776-0942 On 11February . KKR feels that the management team has done a phenomenal job. August 16, 2022. barracuda.substack.com. More recently, key Barracuda moves include buying Skout Cybersecurity for MSP-focused security operations center capabilities. 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. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. Save my name, email, and website in this browser for the next time I comment. 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. Guggenheim Securities, DBO Partners and Barclays served as financial advisors to KKR. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). Datto to be Acquired by Kaseya for $6.2 Billion, with Funding Led by 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. 408-813-7762 J.P. Morgan served as exclusive financial advisor to Thoma Bravo and Barracuda. We will continue Barracudas tradition of delivering easy-to-use, full-featured solutions that can be deployed in the way that makes sense for our customers, said BJ Jenkins, chief executive officer of Barracuda. KKR Scooping Up Barracuda Networks from Thoma Bravo for $4 Billion We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. 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. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. 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 response (XDR) platform and KKR Completes Acquisition of Barracuda from Thoma Bravo 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. One of our values at Barracuda is to succeed together. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. 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. . Getting started is easy. 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. The ION/MarketFactory Merger, Implications for FX Market - Greenwich Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Protect your business and users from ransomware attacks in three easy steps. 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 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. The offer represents a 52% premium to Datto's unaffected stock price of $23.37 as of March 16, 2022. Sheppard Mullin Advises SKOUT Cybersecurity in Acquisition by Barracuda Networks 07.01.2021 Sheppard Mullin represented SKOUT Cybersecurity, a leader in cyber-as-a-service software for Managed Service Providers (MSPs) and provider of an extended detection and response (XDR) platform and service, in its More information about Thoma Bravo can be found at www.thomabravo.com. Apply to Closer, Junior Account Manager, Software Consultant and more! We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. 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. Noted Bradley Brown, managing director at KKR: Barracuda has built an impressive portfolio of solutions that are helping SMEs around the world protect their data and address critical security challenges. The Barracuda acquisition may not have been threatening to ION per se, but it might have alerted them to the utility of acquisitions in the sector, and in particular in the connectivity and integration section of the market. We will continue Barracuda's tradition of delivering easy-to-use, full-featured solutions that can be deployed in the way that makes sense for our customers," said BJ Jenkins, chief executive officer of Barracuda. These forward-looking statements should not be relied upon as representing Barracuda's views as of any date subsequent to the date of this press release. 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. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. This helpful guide contains hundreds of detailed . Thoma Bravo Completes Acquisition of Barracuda Your email address will not be published. Talent Acquisition Specialist jobs 2,414 open jobs Director of Education jobs 1,408 open jobs Estate Manager jobs 1,098 open jobs . Subscribe to the daily e-mail newsletter from ChannelBuzz.ca and get the latest Canadian channel news delivered to your desktop every weekday morning. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. What Managed Workplace's acquisition means for MSPs - Smarter MSP We look forward to watching Barracudas continued success.. Barracuda generates more than $500 million in annual revenue, the buyer indicated. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as its legal advisors. Complete Web Application and API Protection (WAAP) platform to secure your workloads in the cloud. 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. 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. Essay About Barracuda Consider Acquisition And Clearer Picture 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. 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. The Barracuda acquisition is expected to close by the end of 2022, KKR indicated. In todays deal announcement, neither KKR nor Barracuda mentioned Barracudas long-established MSP partner strategy. Thoma Bravo KKR Completes Acquisition of Barracuda from Thoma Bravo Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. [31] In November 2017, private equity firm Thoma Bravo announced they were taking Barracuda Networks private in a $1.6 billion buyout. Barracuda Email ProtectionComplete security that stops all 13 email threat types and protects Microsoft 365 data. Your email address will not be published. We. The acquisition expands our MSP security offerings with a powerful XDR platform backed by a 24x7 SOC," said Brian Babineau, Senior Vice President and General Manager, Barracuda MSP. 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. Naguib confirmed that the existing Barracuda leadership team will not be going anywhere with the ownership change. Get WAF protection in minutes with our application security service. View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005856/en/, For Barracuda Networks: dentalcorp hiring Secrtaire Dentaire - Centre Dentaire le-Perrot in L | Zdnet Additional Information and Where to Find ItIn connection with the transaction, the Company will file relevant materials with the SEC, including a preliminary proxy statement on Schedule 14A. 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. Barracuda Networks - Crunchbase Company Profile & Funding Barracuda expands zero trust play with Fyde acquisition - ARN 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. in an all-cash transaction valued at $1.6 billion. 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 Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call Transcript February 27, 2023 Kelcey McKinley: Well. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. That includes education, government, financial services, health care, retail, consumer goods and manufacturing. Protect students and faculty from ransomware and other cyber attacks. "We are very appreciative of Thoma Bravos support and very excited to be working with KKR on this next phase of Barracudas journey. [32] In February 2018 Thoma Bravo announced that it has completed the acquisition. This isn't ION's first acquisition in the FX realm. Thoma Bravo is one of the largest private equity firms in the world, with more than $114 billion in assets under management as of March 31, 2022. Barracuda will implement KKRs broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. The forward-looking statements are based on KKRs beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. 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. The firm currently manages a series of private equity and debt funds representing more than $17.0 billion of capital commitments. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers . Facsimile: +1 (212) 750-0003 More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. For more information, visit www.thomabravo.com. - Collaborate with . London Digital Marketing Agency | Barracuda Digital The Registered Agent on file for this company is Corporation Service Company and is located at 251 Little Falls Drive, Wilmington, DE 19808. Thoma invested in us and reset how we went to market, reset the back end to the cloud, and upgraded our portfolio. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. All contents 2023 MSSP Alert and After Nines Inc. Barracuda hiring Manager, Technical Support in Bengaluru, Karnataka Thoma Bravo Completes Acquisition of Barracuda - Insider KKR Completes Acquisition of Barracuda from Thoma Bravo - Yahoo! For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. Finsbury Glover Hering Facebook. "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. Stop bots from scraping confidential data, skewing web analytics, and impairing website performance. ", "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 focuses on serving SMEs and has more than 200,000 customers worldwide across a variety of industries. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. "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. jelam@barracuda.com, For KKR: KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. 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.. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE TRANSACTION. 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. Its the same company, he said. mfrank@thomabravo.com 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. This press release features multimedia. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. 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.

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