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. 2003 - 2022 Barracuda Networks, Inc. All rights reserved. Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). One of our values at Barracuda is to succeed together. Supported by our Lead . The companies didn't disclose terms of the deal, but sources familiar with it said that KKR would be paying nearly $4 . Mar 2021 - Present2 years 1 month. [] Security business Barracuda Networks acquired for $1.6 billion. This is technology M&A deal number 372 that MSSP Alert and sister site ChannelE2E have covered so far in 2022. NEW YORK & SAN FRANCISCO(BUSINESS WIRE) KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. KKR buys Barracuda Networks from private equity firm Thoma Bravo. Facsimile: +1 (212) 750-0003 Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as its legal advisors. 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. Talent Acquisition Manager, MENA. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. Barracuda expects acquisition by private equity firm KKR will drive Hello, everyone, and welcome to Zoom's Q4 FY '23 Earnings Release Webinar. (eBook/PDF) Challenger And Barracuda Restoration Guide 1967 74 Online 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. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. dentalcorp hiring Secrtaire Dentaire - Centre Dentaire le-Perrot in L Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. By using this site you agree to our use of cookies. 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. 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. 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. Protect patient data and avoid disruptions that could affect patient care. Deploy simple and scalable security with no software or hardware to install. 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. Thoma Bravo Completes Acquisition of Barracuda Past performance is not necessarily indicative of future results. We expect that the acquisition strategy under KKR will be similar to what it has been, Naguib said. Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. Barracuda's Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. 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. 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. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. ", "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. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. As you may have heard, Barracuda has acquired the Managed Workplace remote monitoring and management product line from Avast. Barracuda Networks, 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. 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. Essay About Barracuda Consider Acquisition And Clearer Picture KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. "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. 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. 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 The transaction is anticipated to close by the end of the year, subject to customary conditions. Acquired by Kohlberg Kravis Roberts Campbell, California, United States 501-1000 Grant Delisted www.barracuda.com 15,945 Highlights Acquisitions 13 Investments 5 Exits 3 Total Funding Amount $46.4M Contacts 530 Employee Profiles 35 Talent Acquisition Specialist jobs 2,414 open jobs Director of Education jobs 1,408 open jobs Estate Manager jobs 1,098 open jobs . 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 . 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. "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. Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. from 8 AM - 9 PM ET. 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.. "Were grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.". [33] View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. 646-436-6126 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. CAMPBELL, Calif., Nov. 27, 2017 /PRNewswire/ -- Barracuda Networks, Inc. (NYSE: CUDA ), a leading provider of cloud-enabled security and data protection solutions, today announced that it has. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. KKR Scooping Up Barracuda Networks from Thoma Bravo for $4 Billion 4 ways Barracuda's acquisition of SKOUT Cybersecurity will help MSPs 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. Stop API attacks and improve customer experience. Barracuda Networks has been acquired by KKR, an investment outfit taking the company over from past owner Thoma Bravo. Barracuda Completes Acquisition of SKOUT Cybersecurity - XaaS Journal Apply to Closer, Junior Account Manager, Software Consultant and more! KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Security business Barracuda Networks acquired for $1.6 billion 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. barracuda, any of about 20 species of predacious fishes of the family Sphyraenidae (order Perciformes). 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. 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. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. 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. 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. "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. Thoma Bravo, LLC., a leading private equity investment firm, today announced that it has completed its acquisition of Barracuda Networks, Inc. in an all-cash transaction valued at $1.6 billion. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. Barracuda hiring Inside Sales Territory Manager - UK&I in Reading 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. 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 than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. in an all-cash transaction valued at $1.6 billion. Scan your Microsoft 365 for sensitive data and malware. KKR Completes Acquisition of Barracuda from Thoma Bravo SKOUT is based in Melville, NY. For more information, visit www.thomabravo.com. At Barracuda we strive to make the world a safer place. Browse our security and network solutions designed specifically for AWS. Your email address will not be published. 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. A global crypto scam involving Binance and Huobi exchanges is targeting victims in Colombia, Venezuela, Mexico and Argentina. Barracuda Networks, Inc. Territory Manager Job in Reading, England Thoma Bravo to Acquire ABC Financial Services, Inc. Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. From multiple acquisitions to backend improvements, Barracuda has delivered tremendous value to its customers and partners.. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. 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. Finsbury Glover Hering Now we are out of that transformation and into a growth phase. Protect students and faculty from ransomware and other cyber attacks. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. 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 This strategy is based on the belief that employee engagement is a key driver in building stronger companies. All Rights Reserved. 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. KKR To Acquire Barracuda Networks In Bid To 'Accelerate - CRN Barracuda completes acquisition of SKOUT Cybersecurity We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers journey. Barracuda completes acquisition of SKOUT Cybersecurity - PR Newswire This helpful guide contains hundreds of detailed . 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. Thoma Bravo Completes Acquisition of Barracuda - Insider Multiple KKR, Barracuda and Thoma Bravo sources offered prepared statements on the deal. Jonelle Elam Check out our security products for Google Cloud Platform. As acquisition is the process to takes over the controlling interest of rivals, so another concern was to gain market share and . in an all-cash transaction valued at $1.6 billion. 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. Lead Development Representative Job in Campbell, CA at Barracuda 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.. 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. 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. Shareholders to Receive $27.55 per Share in Cash. Complete Web Application and API Protection (WAAP) platform to secure your workloads in the cloud. 2022 Kohlberg Kravis Roberts & Co. L.P. All Rights Reserved. Supported by our Lead Development team, you will balance receiving . If configured, it is required to shut down the NAC Client and make certain configuration changes. Fill out this form to get a full-featured version of Barracuda Cloud-to-Cloud Backup free for 14 days. 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. 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 forward-looking statements included in this press release represent Barracuda's views as of the date of this press release. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Barracuda Networks extends Barracuda Championship sponsorship through 2025, Cost of an email-borne security attack can on average exceed $1 million. 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. 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. Your email address will not be published. Barracuda will implement KKRs broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. Brazil, Peru and Chile were less targeted. 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.