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,. Scan your Microsoft 365 for sensitive data and malware. Financial terms were not disclosed. I expect that our employees, customers, and partners will benefit from this partnership. 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. We. Automate security policy compliance in the cloud. 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.. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. The Company focuses on serving small and medium sized enterprises (SMEs) and has more than 200,000 customers worldwide across a variety of industries, including education, government, financial services, health care, retail, consumer goods and manufacturing. KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. 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. Browse our security and network solutions designed specifically for AWS. Thoma Bravo acquired Barracuda in 2018 in a $1.6 billion cash deal. ", "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. Huobi has been operating in Argentina ever since an acquisition of a local platform last year. 57 Closer jobs available in Candlewyck, NJ on Indeed.com. In addition, KKRs business strategy is focused on the long-term and financial results are subject to significant volatility. To get growth, you have to invest.. At Barracuda we strive to make the world a safer place. Protect your business and users from ransomware attacks in three easy steps. The Company focuses on serving small and medium sized enterprises (SMEs) and has more than 200,000 customers worldwide across a variety of industries, including education, government, financial services, health care, retail, consumer goods and manufacturing. Founded in 2003, Barracuda is the developer of cybersecurity solutions,. From multiple acquisitions to backend improvements, Barracuda has delivered tremendous value to its customers and partners.. BARRACUDA ACQUISITIONCO, INC. Barracuda's Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. Ensure compliance with safe learning regulations. Facsimile: +1 (212) 750-0003 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. Barracuda Agrees To Be Acquired By Thoma Bravo For $1.6 Billion, Riskonnect Acquires Aruvio, Expands Governance, Risk and Compliance Offering. 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. Required fields are marked *. Barracuda Networks, Inc., a trusted partner and leading provider of cloud-enabled security solutions, 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 service. Check out our security products for Google Cloud Platform. [32] In February 2018 Thoma Bravo announced that it has completed the acquisition. KKR buys Barracuda Networks from private equity firm Thoma Bravo. 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. Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call Transcript February 27, 2023 Kelcey McKinley: Well. 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. 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. The company's filing status is listed as Active and its File Number is 6150972. Copyright 2013 ChannelBuzz.ca. Getting started is easy. Brazil, Peru and Chile were less targeted. Email: Investor-Relations@kkr.com. 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. Available in PDF, EPUB and Kindle. By using this site you agree to our use of cookies. 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. The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. 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. Thoma invested in us and reset how we went to market, reset the back end to the cloud, and upgraded our portfolio. 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. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. We are seeking talented, motivated sales performers who thrive in quick sales cycle environment; this fast-paced role is focused on growing our SMB customer base through the acquisition net-new . 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. At Barracuda, we make the world a safer place. Get SaaS backup for your Microsoft 365 data with unlimited storage. 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. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. "We have enjoyed working closely with Hatem and his team through multiple acquisitions and operational improvements, and we are confident that the company is well-positioned for continued success.". Barracuda Networks, Inc. recently announced that it has officially completed its acquisition of SKOUT Cybersecurity. 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. Financial terms of the deal were not disclosed, though the deal's valuation was roughly $3.8 billion, according to Silicon Valley Business Journal. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. At Barracuda we strive to make the world a safer place. 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. 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. That deal surfaced in July 2021. For more information, visit barracuda.com. This press release features multimedia. This price exceeds Barracudas 52-week high and represents a premium of 22.5 percent to the Companys 10-day average stock price prior toNov. 27, 2017, of$22.49. Protect all your email, SharePoint, OneDrive, and Teams data with protection that goes far beyond what is built into Microsoft 365. 2003 - 2022 Barracuda Networks, Inc. All rights reserved. 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 "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. The Registered Agent on file for this company is Corporation Service Company and is located at 251 Little Falls Drive, Wilmington, DE 19808. San Francisco, CA 94105 +1 (415) 263-3660. Supported by our Lead Development team, you will balance receiving . Barracuda anticipates that subsequent events and developments will cause its views to change. Barracuda's customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data protection. Jonelle Elam 2016 - 20182 . https://www.businesswire.com/news/home/20220412005856/en/. The deal, the terms of which were not disclosed,. That transformation was very successful for us. SKOUT provides Cyber as a Service software for Managed Service Providers (MSPs), as well as an extended detection and response (XDR) platform and service. 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. 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. SKOUT is based in Melville, NY. jelam@barracuda.com, For KKR: For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. The forward-looking statements included in this press release represent Barracudas views as of the date of this press release. Apply to Closer, Junior Account Manager, Software Consultant and more! Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. 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. Barracuda has exchanged one private equity owner for another. 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. Email. 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. Check out our real-time view of global cyber threats, collected from millions of data points. 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. The transaction is anticipated to close by the end of the year, subject to customary conditions. Nicky.bryan@fgh.com, Craig Larson "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. Barracuda is a provider of powerful, easy-to-use, affordable IT solutions for security and storage. As acquisition is the process to takes over the controlling interest of rivals, so another concern was to gain market share and . More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. Financing for the transaction is being provided by Goldman Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank. Barracuda shareholders of record will receive$27.55in cash for each share of Barracuda common stock they hold. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. Twitter. Campbell, California, United States. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. 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. 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. This helpful guide contains hundreds of detailed . 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. This isn't ION's first acquisition in the FX realm. All contents 2023 MSSP Alert and After Nines Inc. Barracuda considers acquisition as its preferred mode of entry into furniture to ensure the immediate market presence in the furniture business and also to emphasize on the business diversification strategy. Copy link. View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005856/en/, For Barracuda Networks: We want to do it in a way that will be of advantage to all.. We look forward to watching Barracudas continued success.. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. in an all-cash transaction valued at $1.6 billion. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. Financial terms were not disclosed. Autel; Lonsdor; Obdstar; Tango; Topdon; Xhorse; Xtool; Partes de cerraduras automotrices . The firm has offices in Chicago, Miami and San Francisco. View the full release here: https://www.businesswire.com/news/home/20220816005239/en/. 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 KKR's investment funds will. "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 company's partner in the next phase of its growth.". 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. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. Teamwork at Barracuda is the key to everything we do and why we succeed. - Head Talent Acquisition and recruitment operations for all business units in MENA covering Financial & Risk, Tax & Accounting, Legal, Intellectual Property & Science, Reuters Media and Global Growth Organization. Mar 2021 - Present2 years 1 month. 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.