J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. jelam@barracuda.com, For KKR: 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. 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. 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. Founded in 2003, Barracuda is the developer of cybersecurity solutions,. At Barracuda we strive to make the world a safer place. View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005856/en/, For Barracuda Networks: 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 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. . This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively KKR), including certain investment funds, vehicles and accounts that are managed by KKR (each, a fund). Barracuda anticipates that subsequent events and developments will cause its views to change. In cybersecurity, you cannot sit on your laurels. 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. Financial terms of the transaction were not disclosed. 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 . Thoma Bravo acquired Barracuda in 2018 in a $1.6 billion cash deal. 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. "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's expertise includes security operations centers (SOCs) for MSPs. Multiple KKR, Barracuda and Thoma Bravo sources offered prepared statements on the deal. 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.. You can also subscribe without commenting. CAMPBELL, Calif., July 13, 2021 /PRNewswire/ -- Barracuda Networks, Inc. , a trusted partner and leading provider of cloud-enabled security solutions, today announced it has completed its. View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005239/en/, For Barracuda Networks:Jonelle Elam408-813-7762jelam@barracuda.com, For KKR:Julia Kosygina212-750-8300media@kkr.com, For Thoma Bravo:Thoma Bravo CommunicationsMegan Frank(212)-731-4778mfrank@thomabravo.com, FGS Global:Nicky Bryan(646)-436-6126nicky.bryan@fgsglobal.com, https://www.businesswire.com/news/home/20220816005239/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. 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. J.P. Morgan served as exclusive financial advisor to Thoma Bravo and 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.. 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 KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. The company's shares hit a high of around $45 in 2015, and. 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. At Barracuda we strive to make the world a safer place. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as its legal advisors. Barracudas are found in all warm and tropical regions; some also range into more temperate areas. 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. 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. 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. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers journey. Copy link. 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 Email ProtectionComplete security that stops all 13 email threat types and protects Microsoft 365 data. barracuda.substack.com. 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 KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Your email address will not be published. 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. 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 . The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. 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. Download or read book Challenger & Barracuda Restoration Guide, 1967-1974 written by Paul A. Herd and published by Motorbooks. For more information, visit www.thomabravo.com. Protect your physical locations with cloud-connected appliances and software that can be deployed on premises or in the cloud. Terms of the deal were not disclosed, as Barracuda is a private company. Still, Barracudas exact annual revenue and EBITDA profit figures are not currently disclosed. Browse our security and network solutions designed specifically for AWS. We look forward to watching Barracudas continued success.. 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. ", "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 firm has offices in Chicago, Miami and San Francisco. 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. KKR & Co. announced Tuesday it's agreed to buy Barracuda from Thoma Bravo LP. 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 2/28/23 MICC West Point issued Sources Sought W911SD23R0994 for Palo Alto Networks -and- Barracuda Firewalls w/Service Agreements due 3/6/23 in an all-cash transaction valued at $1.6 billion. Protect all your email, SharePoint, OneDrive, and Teams data with protection that goes far beyond what is built into Microsoft 365. We feel very strong alignment with this, Naguib indicated. Come Join Our Passionate Team! 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 protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. 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. Magazine Premium created by c.bavota. Protect students and faculty from ransomware and other cyber attacks. Talent Acquisition Manager, MENA. 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. Twitter. 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. 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 Learn how Barracuda can help. If configured, it is required to shut down the NAC Client and make certain configuration changes. 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. BARRACUDA ACQUISITIONCO, INC. is a Delaware Domestic Corporation filed on August 9, 2021. Barracuda has since grown into a business that generates over $500 million in annual revenue, KKR said. Before viewing this presentation, please acknowledge your understanding that it has been prepared for KKR & Co. Inc. (NYSE:KKR) for the benefit of its public stockholders and is not intended to be a solicitation or sale of any of the securities, funds or services that it may discuss. 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. Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call Transcript February 27, 2023 Kelcey McKinley: Well. 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 solutions, today announced that KKR's investment funds have completed an acquisition of Barracuda from Thoma Bravo, a leading . 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. 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. 408-813-7762 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 Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. Apply to Closer, Junior Account Manager, Software Consultant and more! Learn how to protect your organization from all 13 types of email attacks. Thoma Bravo has an excellent history of investing in growing security businesses, and this transaction speaks to the value and strength of Barracudas security platform, which helps customers protect and manage their networks, applications, and data. Getting started is easy. Get protection that goes beyond next-generation firewalls. Private equity powerhouse KKR is acquiring email security provider Barracuda Networks with plans to "accelerate growth" by further pushing the company into key security markets such as managed . San Francisco, CA 94105 +1 (415) 263-3660. 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. 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 Barracuda generates more than $500 million in annual revenue, the buyer indicated. 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. 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. NEW YORK & SAN FRANCISCO - (BUSINESS WIRE)- 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 investment firm. Barracuda has exchanged one private equity owner for another. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. KKR to Acquire Barracuda Networks The transaction is anticipated to close by the end of the year. Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov. - Collaborate with . 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 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. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. 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. 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. 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. Barracuda Agrees To Be Acquired By Thoma Bravo For $1.6 Billion, Riskonnect Acquires Aruvio, Expands Governance, Risk and Compliance Offering. 2016 - 20182 . 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. "We look forward to watching Barracudas continued success.". 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. Financial terms were not disclosed. There has been an evolution in these PE [private equity] partners, and which is the best fit for a company comes down to where the company is in their lifecycle, said Hatem Naguib, CEO of Barracuda. For more information, visit barracuda.com. 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. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. August 16, 2022. Barracuda has announced future discontinuation of its Copy and CudaDrive services as of May 2016. The offer represents a 52% premium to Datto's unaffected stock price of $23.37 as of March 16, 2022. Financial terms were not disclosed. At Barracuda, we make the world a safer place. 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. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Job ID: 23-831. "Were grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.". 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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