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. Multiple KKR, Barracuda and Thoma Bravo sources offered prepared statements on the deal. 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. One of our values at Barracuda is to succeed together. Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). Click Next. KKR feels that the management team has done a phenomenal job. The Barracuda acquisition may not have been threatening to ION per se, but it might have alerted them to the utility of acquisitions in the sector, and in particular in the connectivity and integration section of the market. At Barracuda, we make the world a safer place. 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. Its the same company, he said. Notify me of followup comments via e-mail. 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. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Browse our security and network solutions designed specifically for AWS. in an all-cash transaction valued at $1.6 billion. The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. All contents 2023 MSSP Alert and After Nines Inc. Discovery Company profile page for Herzog Technologies, Inc. including technical research,competitor monitor,market trends,company profile& stock symbol ", "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. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. For more information, visit www.thomabravo.com. Supported by our Lead Development team, you will balance receiving . Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. 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. But MSPs have been a top go-to-market channel for Barracuda since about 2016 or so. Vis Tox cheville expansion Barracuda 14 x 70 . Talent Acquisition Specialist jobs 2,414 open jobs Director of Education jobs 1,408 open jobs Estate Manager jobs 1,098 open jobs . 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. Complete Web Application and API Protection (WAAP) platform to secure your workloads in the cloud. 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. Were here to help you protect and support your customers for life with enterprise-grade, cloud-ready security solutions. 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 . For more information, visit barracuda.com. 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 Barracuda acquisition is expected to close by the end of 2022, KKR indicated. I expect a mix of business as usual and positive change in the same way partners saw positive change when we were acquired by Thoma, he indicated Our relationship with our partners has always been critical, and that will not change. Barracuda's Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. 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 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. 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. Fill out this form to get a full-featured version of Barracuda Cloud-to-Cloud Backup free for 14 days. Barracuda plans to buy Skout Cybersecurity to provide MSPs with the technology and manpower needed to respond more effectively to cyberthreats. Thoma Bravo acquired Barracuda in 2018 in a $1.6 billion cash deal. It has also made a series of acquisitions, including buying extended detection and response. Shareholders to Receive $27.55 per Share in Cash. KKR buys Barracuda Networks from private equity firm 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 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. We are seeking talented, motivated sales performers who thrive in quick sales cycle environment. KKR to Acquire Barracuda Networks The transaction is anticipated to close by the end of the year. Accept the License Agreement, and click Next. 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. Protect your physical locations with cloud-connected appliances and software that can be deployed on premises or in the cloud. "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 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. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers' journey. Envision yourself at Barracuda! We are seeking talented, motivated sales performers who thrive in quick sales cycle environment. Barracuda's expertise includes security operations centers (SOCs) for MSPs. That compares to $352.6 million back in 2017, according to historic data from Barracuda. J.P. Morgan served as exclusive financial advisor to Thoma Bravo and Barracuda. 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. 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. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. This fast-paced role is focused on growing our Small to Midsize Business (SMB) customer base through expansion and acquisition of net-new customers. 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. "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.". Subscribe to the daily e-mail newsletter from ChannelBuzz.ca and get the latest Canadian channel news delivered to your desktop every weekday morning. The firm has offices in Chicago, Miami and San Francisco. Supported by our Lead . Get SaaS backup for your Microsoft 365 data with unlimited storage. 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). For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. This isn't ION's first acquisition in the FX realm. Protect all your email, SharePoint, OneDrive, and Teams data with protection that goes far beyond what is built into Microsoft 365. Get WAF protection in minutes with our application security service. 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. 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 believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. 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. Getting started is easy. Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. media@kkr.com, For Thoma Bravo: Select Barracuda VPN Client + Personal Firewall + Health Monitoring to initiate a complete installation. 2003 - 2022 Barracuda Networks, Inc. All rights reserved. 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 . Barracuda has exchanged one private equity owner for another. Cautionary Statement Regarding Forward-Looking Statements This 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 Barracuda's products, the introduction and timing of product enhancements or additional products, Barracuda's 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. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. 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. Scan your Microsoft 365 for sensitive data and malware. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. A global crypto scam involving Binance and Huobi exchanges is targeting victims in Colombia, Venezuela, Mexico and Argentina. 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 This fast-paced role is focused on growing our Small to Midsize Business (SMB) customer base through expansion and acquisition of net-new customers. 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. For additional information, please visitbarracuda.com. 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. More information about Thoma Bravo can be found at www.thomabravo.com. [31] In November 2017, private equity firm Thoma Bravo announced they were taking Barracuda Networks private in a $1.6 billion buyout. San Francisco, CA 94105 +1 (415) 263-3660. The deal, the terms of which were not disclosed,. More than 220,000 global customers trust Barracuda to safeguard their employees, data, and applications from a . Brazil, Peru and Chile were less targeted. 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,. Broadway Technology, a provider of foreign exchange (forex) and fixed income solutions, announced this Tuesday that it has acquired 100 percent of Barracuda FX, which offers FX order management technology. The transaction is anticipated to close by the end of the year, subject to customary conditions. 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. This is technology M&A deal number 372 that MSSP Alert and sister site ChannelE2Ehave covered so far in 2022. Barracuda went public on the New York Stock Exchange (NYSE) in late 2013, pricing its IPO at $18 and raising $75 million in the process. Facsimile: +1 (212) 750-0003 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. "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. 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 - Collaborate with . Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call Transcript February 27, 2023 Kelcey McKinley: Well. 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. 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. Automate security policy compliance in the cloud. 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. ", "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. Job ID: 23-831. Naguib confirmed that the existing Barracuda leadership team will not be going anywhere with the ownership change. By using this site you agree to our use of cookies. Financial terms were not disclosed. We. More than 200,000 customers worldwide count on Barracuda to protect their email, networks, applications, and data. The firm has offices in Chicago, Miami and San Francisco. 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. Barracuda Email ProtectionComplete security that stops all 13 email threat types and protects Microsoft 365 data. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. The firm has offices in Chicago, Miami and San Francisco. Under Thoma, Barracuda made acquisitions, although not as many as some companies who pursued an ultra-aggressive strategy in that regard. 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. Enter a Master Password for the Barracuda Network Access Client. 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.. mfrank@thomabravo.com We look forward to watching Barracudas continued success.. I expect that our employees, customers, and partners will benefit from this partnership. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. This is technology M&A deal number 372 that MSSP Alert and sister site ChannelE2E have covered so far in 2022. Meanwhile, KKR has expansive experience in the cybersecurity and MSSP markets. Please read our cookie notice for more information on the cookies we use and how to delete or block them. Founded in 2003, Barracuda is the developer of cybersecurity solutions,. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Complete security that stops all 13 email threat types and protects Microsoft 365 data. August 16, 2022. 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. Barracuda Networks, Inc. recently announced that it has officially completed its acquisition of SKOUT Cybersecurity. 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. ", "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. At Barracuda we strive to make the world a safer place. Save my name, email, and website in this browser for the next time I comment. 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. Privacy Policy |Website Terms & Conditions. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. At Barracuda we strive to make the world a safer place. [33] 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.. 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.. Shareholders to Receive $27.55 per Share in Cash. Huobi has been operating in Argentina ever since an acquisition of a local platform last year. Campbell, Calif. (September 29, 2015) - Barracuda Networks, Inc. (NYSE: CUDA) today announced it has entered into a definitive agreement to acquire privately held Intronis, Inc. (Intronis), a leader in providing data protection solutions to managed service providers (MSPs), a fast-growing channel delivering IT services to small and medium-sized The firm currently manages a series of private equity and debt funds representing more than$17.0 billionof capital commitments. Download or read book Challenger & Barracuda Restoration Guide, 1967-1974 written by Paul A. Herd and published by Motorbooks. 408-813-7762 All Rights Reserved. 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 Networks: Larger MSP Software Ambitions. At Barracuda we strive to make the world a safer place. All forward-looking statements speak only as of the date they are made. Twitter. 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. 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. Financial terms were not disclosed. Barracuda Networks has purchased Skout Cybersecurity, a New York-based channel-only provider of extended detection and response (XDR) services. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. Stop API attacks and improve customer experience. Barracudas Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. Your email address will not be published. jelam@barracuda.com, For KKR: . At Barracuda we strive to make the world a safer place. Protect patient data and avoid disruptions that could affect patient care. 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., 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. 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. Though above Barracuda's 52-week high, the price is down from the over $40 per share where the stock was trading in 2015. Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. 57 Closer jobs available in Candlewyck, NJ on Indeed.com. Hello, everyone, and welcome to Zoom's Q4 FY '23 Earnings Release Webinar. We protect email, networks, data, and applications with innovative solutions that grow and adapt with our customers journey.