Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. 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. 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. 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. Get WAF protection in minutes with our application security service. Barracuda has announced future discontinuation of its Copy and CudaDrive services as of May 2016. Learn how to protect your organization from all 13 types of email attacks. As acquisition is the process to takes over the controlling interest of rivals, so another concern was to gain market share and . KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Available in PDF, EPUB and Kindle. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005856/en/, For Barracuda Networks: Barracuda anticipates that subsequent events and developments will cause its views to change. 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. 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. 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. La reprise se fera sur un produit usag quivalent au produit achet (en termes de fonction et de volume), sur rendez-vous auprs de notre service client. 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. 2022 Kohlberg Kravis Roberts & Co. L.P. All Rights Reserved. Privacy Policy |Website Terms & Conditions. Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. 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. KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Stop API attacks and improve customer experience. 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. Protect patient data and avoid disruptions that could affect patient care. 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. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. At Barracuda, we make the world a safer place. Protect websites and apps from advanced cyber-threats. See more than 1,000 technology M&A deals listed here, buying Skout Cybersecurity for MSP-focused security operations center capabilities, Top 250 Managed Security Services Providers (MSSP) Company List, Top 40 Managed Detection and Response (MDR) Company List, MSSP M&A List: 100+ Managed Security Buyers, Sellers and Investors. Automate security policy compliance in the cloud. Barracuda generates more than $500 million in annual revenue, the buyer indicated. 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. 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. 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 very appreciative of Thoma Bravos support and very excited to be working with KKR on this next phase of Barracudas journey.. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Barracuda Networks extends Barracuda Championship sponsorship through 2025, Cost of an email-borne security attack can on average exceed $1 million. KKR buys Barracuda Networks from private equity firm Thoma Bravo. Brazil, Peru and Chile were less targeted. We feel very strong alignment with this, Naguib indicated. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. 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. 408-813-7762 This helpful guide contains hundreds of detailed . The Edge DR Tech Sections Close Back Sections Featured Sections The Edge Dark Reading Technology. Teamwork at Barracuda is the key to everything we do and why we succeed. San Francisco, CA 94105 +1 (415) 263-3660. 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. mfrank@thomabravo.com Save my name, email, and website in this browser for the next time I comment. Were here to help you protect and support your customers for life with enterprise-grade, cloud-ready security solutions. ", "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. 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. 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. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Botes Exhibidores; Llaveros; Anualidades para Equipos. 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. For more information, visit www.thomabravo.com. 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. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. "With this acquisition, Barracuda is providing distributed businesses a new way to modernise remote access, enforce global security and access policies, and achieve seamless connectivity without . 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. 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. 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). That deal surfaced in July 2021. In todays deal announcement, neither KKR nor Barracuda mentioned Barracudas long-established MSP partner strategy. [33] barracuda.substack.com. The Registered Agent on file for this company is Corporation Service Company and is located at 251 Little Falls Drive, Wilmington, DE 19808. media@kkr.com, For Thoma Bravo: Financial terms of the deal were not disclosed, though the deal's valuation was roughly $3.8 billion, according to Silicon Valley Business Journal. Protect data wherever it resides to minimize downtime and prevent data loss. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. Barracuda plans to buy Skout Cybersecurity to provide MSPs with the technology and manpower needed to respond more effectively to cyberthreats. 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. Nicky.bryan@fgh.com, Craig Larson The firm currently manages a series of private equity and debt funds representing more than$17.0 billionof capital commitments. The transaction is anticipated to close by the end of the year, subject to customary conditions. "We believe the proposed transaction offers an opportunity for us to accelerate our growth with our industry-leading security platform that's purpose-built for highly distributed, diverse cloud and hybrid environments. But MSPs have been a top go-to-market channel for Barracuda since about 2016 or so. Fill out this form to get a full-featured version of Barracuda Cloud-to-Cloud Backup free for 14 days. 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. 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. More information about Thoma Bravo can be found at www.thomabravo.com. 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 We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. "We are excited to complete this transaction and begin working with the Barracuda team to support their continued growth and delivery of next generation cloud-first cybersecurity solutions that protect SMEs from an evolving landscape of threats," said John Park, a Partner at KKR. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. THREAT PREVENTION Spam, Malware, and Advanced Threat Protection Phishing and Impersonation Protection Account Takeover Protection Domain Fraud Protection Web Security Zero Trust Access for Microsoft 365 Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. 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. 2003 - 2022 Barracuda Networks, Inc. All rights reserved. The firm seeks to create value by collaborating with company management to improve business operations, invest in growth initiatives and make accretive acquisitions. Autel; Lonsdor; Obdstar; Tango; Topdon; Xhorse; Xtool; Partes de cerraduras automotrices . KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. 212-731-4778, Nicky Bryan 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. Learn how Barracuda can help. Barracuda jobs Humi jobs Ethoca jobs Flipp jobs Ontario Medical Association jobs City of Richmond Hill jobs Sofina Foods Inc. jobs . [] Security business Barracuda Networks acquired for $1.6 billion. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. Click Next. ", "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 forward-looking statements speak only as of the date they are made. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Managed Security Services Providers (MSSP) News, Analysis and Cybersecurity Research. 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. from 8 AM - 9 PM ET. Barracuda values partnership. 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. Over the past 20 years, the firm has acquired or invested in more than 375 companies representing over $190 billion in enterprise value. Upon the close of the transaction, Barracuda will operate as a privately-held company with a continued focus on email security and management, network and application security, and data protection solutions that can be deployed in cloud and hybrid environments. For more information, visit www.thomabravo.com. in an all-cash transaction valued at $1.6 billion. Copyright 2013 ChannelBuzz.ca. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, and Wilson Sonsini Goodrich & Rosati, Professional Corporation, is serving as its legal advisors. Now we are out of that transformation and into a growth phase. Financial terms were not disclosed. 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. 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. We are very pleased with the results of our acquisition strategy. Shareholders to Receive $27.55 per Share in Cash. Barracuda's expertise includes security operations centers (SOCs) for MSPs. Financing for the transaction is being provided by Goldman Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank. Promptly after filing its definitive proxy statement with the Securities and Exchange Commission (the SEC), the Company will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the merger. Thoma Bravo acquired Barracuda in 2018 in a $1.6 billion cash deal. Supported by our Lead . 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. ", "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. Thoma invested in us and reset how we went to market, reset the back end to the cloud, and upgraded our portfolio. The forward-looking statements included in this press release represent Barracudas views as of the date of this press release. Its the same company, he said. Financial terms of the transaction were not disclosed. Deploy simple and scalable security with no software or hardware to install. 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. 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. Facsimile: +1 (212) 750-0003 Barracuda's customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data protection. 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. This isn't ION's first acquisition in the FX realm. 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. The forward-looking statements included in this press release represent Barracuda's views as of the date of this press release. A global crypto scam involving Binance and Huobi exchanges is targeting victims in Colombia, Venezuela, Mexico and Argentina. 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 . J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. Protect your business and users from ransomware attacks in three easy steps. BARRACUDA ACQUISITIONCO, INC. is a Delaware Domestic Corporation filed on August 9, 2021. SKOUT is based in Melville, NY. 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 References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. 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.. Thoma Bravo to Acquire ABC Financial Services, Inc. Barracudas customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data protection. Simpson Thacher & Bartlett LLP is serving as legal counsel to KKR. Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and Barracuda. Select Barracuda VPN Client + Personal Firewall + Health Monitoring to initiate a complete installation. 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. Check out our real-time view of global cyber threats, collected from millions of data points. 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. Protect students and faculty from ransomware and other cyber attacks. https://www.businesswire.com/news/home/20220412005856/en/. 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. Barracudas are found in all warm and tropical regions; some also range into more temperate areas. "We look forward to watching Barracudas continued success.". KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. Huobi has been operating in Argentina ever since an acquisition of a local platform last year. 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 Get SaaS backup for your Microsoft 365 data with unlimited storage. Julia Kosygina ", "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.