We are seeking talented, motivated sales performers who thrive in quick sales cycle environment. 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. Guggenheim Securities, DBO Partners and Barclays are serving as financial advisors to KKR. Under Thoma, Barracuda made acquisitions, although not as many as some companies who pursued an ultra-aggressive strategy in that regard. Financial terms of the deal were not disclosed, though the deals valuation was roughly $3.8 billion, according to Silicon Valley Business Journal. barracuda.substack.com. 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. In cybersecurity, you cannot sit on your laurels. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. View the full release here: https://www.businesswire.com/news/home/20220816005239/en/. "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. We want to do it in a way that will be of advantage to all.. The transaction is anticipated to close by the end of the year, subject to customary conditions. This book was released on 1997 with total page 268 pages. Envision yourself at Barracuda The Lead Development Rep (LDR) is primarily responsible for delivering qualified leads to our Territory Management Team. . 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. SKOUT provides Cyber as a Service software for Managed Service Providers (MSPs), as well as an extended detection and response (XDR) platform and service. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKRs website at www.kkr.com and on Twitter @KKR_Co. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. 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. 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. 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. We feel very strong alignment with this, Naguib indicated. 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 Networks has been acquired by KKR, an investment outfit taking the company over from past owner Thoma Bravo. Jonelle Elam 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 Scan your Microsoft 365 for sensitive data and malware. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. 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 focuses on serving SMEs and has more than 200,000 customers worldwide across a variety of industries. Mar 2021 - Present2 years 1 month. Please read our cookie notice for more information on the cookies we use and how to delete or block them. At Barracuda we strive to make the world a safer place. Nicky.bryan@fgh.com, Craig Larson 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. KKR has acquired Barracuda Networks from private equity firm Thoma Bravo. Barracuda Networks: Larger MSP Software Ambitions. https://www.businesswire.com/news/home/20220412005856/en/. 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. 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. 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 transaction is anticipated to close by the end of the year, subject to customary conditions. 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. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. 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. Barracuda has since grown into a business that generates over $500 million in annual revenue, KKR said. 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. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. 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. Meanwhile, KKR has expansive experience in the cybersecurity and MSSP markets. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. Added John Park, head of Americas Technology Private Equity at KKR: We continue to see cybersecurity as a highly attractive sector and are excited to back a clear leader in the space. We. This helpful guide contains hundreds of detailed . Barracuda will implement KKRs broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. 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. 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.. By using this site you agree to our use of cookies. ", "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 offer represents a 52% premium to Datto's unaffected stock price of $23.37 as of March 16, 2022. Barracuda Networks, Inc. recently announced that it has officially completed its acquisition of SKOUT Cybersecurity. Morgan Stanley& Co. LLC is serving as financial advisor to Barracuda, andWilson Sonsini Goodrich& Rosati, Professional Corporation, is serving as its legal advisors. 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 . Magazine Premium created by c.bavota. 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. Protect your business and users from ransomware attacks in three easy steps. At Barracuda, we make the world a safer place. Facsimile: +1 (212) 750-0003 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. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions.
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