Get started in minutes. 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. Envision yourself at Barracuda The Lead Development Rep (LDR) is primarily responsible for delivering qualified leads to our Territory Management Team. 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. 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. KKR has acquired Barracuda Networks from private equity firm 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. At Barracuda we strive to make the world a safer place. 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. Get WAF protection in minutes with our application security service. I expect that our employees, customers, and partners will benefit from this partnership. Barracuda's expertise includes security operations centers (SOCs) for MSPs. Financial terms were not disclosed. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. We are very appreciative of Thoma Bravos support and very excited to be working with KKR on this next phase of Barracudas journey.. To get growth, you have to invest.. For more information, visit barracuda.com. Saab AB (originally Svenska Aeroplan AB, later just SAAB and Saab Group) is a Swedish aerospace and defence company, founded in 1937. "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 announced future discontinuation of its Copy and CudaDrive services as of May 2016. Click Next to continue. Barracuda will implement KKRs broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. More than 220,000 global customers trust Barracuda to safeguard their employees, data, and applications from a . From multiple acquisitions to backend improvements, Barracuda has delivered tremendous value to its customers and partners.. 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. Learn how Barracuda can help. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. 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. There are different types of equity plans, and the plans can be different, even with KKR, Naguib said. That deal surfaced in July 2021. 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. 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. 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. propos de nous: Depuis plus de 10 ans, le Centre dentaire le Perrot (CDIP) est ddi votre sant bucco-dentaire. By using this site you agree to our use of cookies. 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. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. More recently, key Barracuda moves include buying Skout Cybersecurity for MSP-focused security operations center capabilities. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. Shareholders to Receive $27.55 per Share in Cash. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. 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. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. LiveVox continues to build out fledgling channel strategy with launch of ACTivate channel program, Pax8, AWS sign distribution deal to bring AWS into Pax8 solutions , Sage ramps up automation of Sage Intacct solution, Pure Storage tackles broad sub-$0.20 per GB disk market with FlashBlade//E, Aptum sees strong channel opportunities in new Multi-Tenant Cloud Solution, Zero-Trust vendor Cyolo restructures partner program, Salt Security enhances certification and training capabilities with Essential Partner Certification Program, Startup Entitle comes out of stealth with novel SaaS-based cloud permissions management platform solution. 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. ", "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. 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 . For more information, visit www.thomabravo.com. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Founded in 2003, Barracuda is the developer of cybersecurity solutions,. 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. 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. "Were ready to deliver on our next phase of growth with KKR and remain dedicated to investing in our team and product portfolio to provide innovative cybersecurity solutions for our customers and partners," said Hatem Naguib, CEO of Barracuda. 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. For additional information, please visit barracuda.com. 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. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers . The firm has offices in Chicago, Miami and San Francisco. 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. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. The Managed Workplace acquisition is part of a larger MSP-centric partner strategy that extends all the from Barracuda CEO BJ Jenkins' office to the company's boardroom, ChannelE2E believes. This is technology M&A deal number 372 that MSSP Alert and sister site ChannelE2Ehave covered so far in 2022. This fast-paced role is focused on growing our Small to Midsize Business (SMB) customer base through expansion and acquisition of net-new customers. 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 SECs website (http://www.sec.gov) or at the Companys website (http://investor.Barracuda.com/) or by writing to the Companys Secretary at 3175 S. Winchester Blvd,Campbell CA95008. 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. KKR feels that the management team has done a phenomenal job. Thoma Bravo 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. To the extent the Company's directors and executive officers' holdings of the Company's securities have changed since the amounts printed in the Company's proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. 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 protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. Talent Acquisition Manager, MENA. 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 has since grown into a business that generates over $500 million in annual revenue, KKR said. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. To the extent the Companys directors and executive officers holdings of the Companys securities have changed since the amounts printed in the Companys proxy statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. These powerful, easy-to-use and affordable solutions are trusted by more than 150,000 organizations worldwide and are delivered in appliance, virtual appliance, cloud and hybrid deployment configurations. 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. Weve been thrilled with the team we got with that. Managed detection and response [MDR] extended detection and response [XDR], and secure access service edge [SASE] technology will be the focus of these acquisition efforts going forward. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. We expect that the acquisition strategy under KKR will be similar to what it has been, Naguib said. 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. ", "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. 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. 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. ", "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 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. Email. Please read our cookie notice for more information on the cookies we use and how to delete or block them. Barracuda jobs Humi jobs Ethoca jobs Flipp jobs Ontario Medical Association jobs City of Richmond Hill jobs Sofina Foods Inc. jobs . Though above Barracuda's 52-week high, the price is down from the over $40 per share where the stock was trading in 2015. More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold. 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. 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. Get security and networking solutions that are deployed natively in Microsoft Azure. We look forward to watching Barracudas continued success.. KKR will provide resources and expertise to further accelerate the Companys growth and support its strategic expansion in key areas, including managed detection and response, extended detection and response, and secure access service edge technology. Barracudas are found in all warm and tropical regions; some also range into more temperate areas.