SKOUT is based in Melville, NY. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. We are very pleased with the results of our acquisition strategy. 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. 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. 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. 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. But MSPs have been a top go-to-market channel for Barracuda since about 2016 or so. Campbell, California, United States. 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.. Your email address will not be published. These forward-looking statements should not be relied upon as representing Barracudas views as of any date subsequent to the date of this press release. Facsimile: +1 (212) 750-0003 from 8 AM - 9 PM ET. Thoma Bravo acquired Barracuda in 2018 in a $1.6 billion cash deal. in an all-cash transaction valued at $1.6 billion. This helpful guide contains hundreds of detailed . Magazine Premium created by c.bavota. Stop API attacks and improve customer experience. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. We feel very strong alignment with this, Naguib indicated. Participants in the SolicitationThe Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Companys stockholders with respect to the transaction. Multiple KKR, Barracuda and Thoma Bravo sources offered prepared statements on the deal. 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 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. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. 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. View the full release here: https://www.businesswire.com/news/home/20220816005239/en/. 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. ", "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. 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. When we were acquired by Thoma Bravo, we were a public company, but we had no ability to transform ourselves. Copyright 2013 ChannelBuzz.ca. 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. Privacy Policy |Website Terms & Conditions. 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. Get started in minutes. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. 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. 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. Please read our cookie notice for more information on the cookies we use and how to delete or block them. 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. Financial services are a prime target for cyber attacks. Outside US: +1 (212) 230-9410 The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 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. Barracuda execs say that the BitLeap acquisition fits into the company's existing business model and SMB target market segment as it continues its current expansion into the storage arena . Information about the Companys directors and executive officers and their ownership of Company Common Stock is set forth in the proxy statement on Schedule 14A filed with the SEC onJune 28, 2017and the Annual Report on Forms 10-K for the fiscal year endedFebruary 28, 2017. 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 KKR's 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 media@kkr.com, For Thoma Bravo: ", "Barracuda is a proven industry leader, consistently bringing powerful, comprehensive solutions to customers in an increasingly prevalent, hostile, and complex threat environment," said Seth Boro, a managing partner at Thoma Bravo. 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. If configured, it is required to shut down the NAC Client and make certain configuration changes. The proposed transaction is expected to close before Barracudas fiscal year end ofFeb. 28, 2018, and is subject to approval by Barracudas shareholders and regulatory authorities, and the satisfaction of other customary closing conditions. [33] BARRACUDA ACQUISITIONCO, INC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. The firm has offices in Chicago, Miami and San Francisco. 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. Information about the Company's directors and executive officers and their ownership of Company Common Stock is set forth in the proxy statement on Schedule 14A filed with the SEC on June 28, 2017 and the Annual Report on Forms 10-K for the fiscal year ended February 28, 2017. We. Scan your Microsoft 365 for sensitive data and malware. 2016 - 20182 . We expect that the acquisition strategy under KKR will be similar to what it has been, Naguib said. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. 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. Though above Barracuda's 52-week high, the price is down from the over $40 per share where the stock was trading in 2015. We are all very aligned with the strategy we are heading into now, as opposed to the reset we did when we came in from private ownership.. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. barracuda, any of about 20 species of predacious fishes of the family Sphyraenidae (order Perciformes). J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. 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. 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. That impacts who is a good fit. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. Barracuda's customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data protection. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. BARRACUDA ACQUISITIONCO, INC. is a Delaware Domestic Corporation filed on August 9, 2021. KKR to Acquire Barracuda Networks The transaction is anticipated to close by the end of the year. This book was released on 1997 with total page 268 pages. 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. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. Barracuda plans to buy Skout Cybersecurity to provide MSPs with the technology and manpower needed to respond more effectively to cyberthreats. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. At Barracuda we strive to make the world a safer place. 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. Under Thoma, Barracuda made acquisitions, although not as many as some companies who pursued an ultra-aggressive strategy in that regard. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. A global crypto scam involving Binance and Huobi exchanges is targeting victims in Colombia, Venezuela, Mexico and Argentina. 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. [32] In February 2018 Thoma Bravo announced that it has completed the acquisition. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. 2022 Kohlberg Kravis Roberts & Co. L.P. All Rights Reserved. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Barracudas are found in all warm and tropical regions; some also range into more temperate areas. "Were grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.". KKR buys Barracuda Networks from private equity firm Thoma Bravo. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. 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. About Thoma Bravo, LLC Thoma 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. 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 transaction is anticipated to close by the end of the year, subject to customary conditions. 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. To get growth, you have to invest.. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. Now we are out of that transformation and into a growth phase. KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. The firm currently manages a series of private equity and debt funds representing more than$17.0 billionof capital commitments. 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. 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. 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. Accessorios. "We look forward to watching Barracudas continued success.". Click Next. 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. 57 Closer jobs available in Candlewyck, NJ on Indeed.com. In todays deal announcement, neither KKR nor Barracuda mentioned Barracudas long-established MSP partner strategy. Financial terms were not disclosed. View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005856/en/, For Barracuda Networks: 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 That compares to $352.6 million back in 2017, according to historic data from Barracuda. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. Financial terms were not disclosed. Jonelle Elam 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. Download or read book Challenger & Barracuda Restoration Guide, 1967-1974 written by Paul A. Herd and published by Motorbooks. 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 websites and apps from advanced cyber-threats. 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 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. Ensure compliance with safe learning regulations. 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. Get SaaS backup for your Microsoft 365 data with unlimited storage. Hatem Naguib, CEO of Barracuda. 212-750-8300 Subscribe to the daily e-mail newsletter from ChannelBuzz.ca and get the latest Canadian channel news delivered to your desktop every weekday morning. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. Barracuda shareholders of record will receive$27.55in cash for each share of Barracuda common stock they hold. Barracuda Networks, Inc. recently announced that it has officially completed its acquisition of SKOUT Cybersecurity. The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. 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. One change that will take place will be the introduction of KKRs broad-based employee ownership program, which is based on the belief that employee engagement is a key driver in building stronger companies. Barracuda generates more than $500 million in annual revenue, the buyer indicated. The firm has offices in Chicago, Miami and San Francisco. - 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. 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. I expect that our employees, customers, and partners will benefit from this partnership., Barracuda is a proven industry leader, consistently bringing powerful, comprehensive solutions to customers in an increasingly prevalent, hostile, and complex threat environment, saidSeth Boro, a managing partner at Thoma Bravo. Learn how to protect your organization from all 13 types of email attacks. 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. The firm has offices in Chicago, Miami and San Francisco. Thoma Bravo UK LLP is an Appointed Representative of Sapia Partners LLP which is regulated and authorised by the Financial Conduct Authority (FCA). This strategy is based on the belief that employee engagement is a key driver in building stronger companies. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. We look forward to watching Barracudas continued success.. 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. 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. 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. [] Security business Barracuda Networks acquired for $1.6 billion. The companies didn't disclose terms of the deal, but sources familiar with it said that KKR would be paying nearly $4 . Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. Thoma Bravo to Acquire ABC Financial Services, Inc. . Required fields are marked *. Mar 2021 - Present2 years 1 month. 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. CAMPBELL, Calif., Feb. 12, 2018 /PRNewswire/ -- Thoma Bravo, LLC., a leading private equity investment firm, today announced that it has completed. 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. 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. For more information, visit www.thomabravo.com. Barracuda values partnership. This fast-paced role is focused on growing our Small to Midsize Business (SMB) customer base through expansion and acquisition of net-new customers. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. Please click on "I understand" to view the presentation. One of our values at Barracuda is to succeed together. Swift and powerful, they are slender in form, with small scales, two well-separated dorsal fins, a jutting lower jaw, and a large mouth with many large, sharp teeth. For more information, visit barracuda.com. Supported by our Lead Development team, you will balance receiving . The company's shares hit a high of around $45 in 2015, and. e-mail. At Barracuda we strive to make the world a safer place. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR.
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