The private equity financing company, Thoma Bravo has bought the data protection and cloud security Barracuda Networks Inc., in a $1.6 billion transaction. Goldman Sachs & Co. LLC and Credit Suisse provided financing for the acquisition. UBS Investment Bank, Barracuda will carry on to operate as a privately held company. Barracuda shareholders will get $27.55 for each ordinary share they have. BJ Jenkins, Chief Executive Officer of Barracuda said “Thoma Bravo has got an outstanding background of financing in expanding safety companies, and this deal speaks to the strength and value of Barracuda’s safety program, which assists clients to manage and protect their applications, networks, and data. I expect that our customers, employees, and associates will benefit from this collaboration.”
Barracuda presently safeguards over 150,000 clients from a web, email, and network attacks with its program used to safeguard applications and workloads from the full variety of malevolent attacks. Its cybersecurity resolutions can be centrally controlled in hybrid and cloud environments.
The firm’s complete variety of cybersecurity resolutions coupled with the simplicity at which they can be installed, used, as well as maintained, has assisted the firm to become a frontrunner in the area of data and network safety.
Being an industry frontrunner with a robust range of cybersecurity items, Barracuda was an appealing goal for Thoma Bravo. The private equity company will carry on to work with the administration group at Barracuda and will drive the firm to reinforce its status even more, with Barracuda remaining devoted to developing its web, email, network, application as well as data safety solutions and launching new technology to give clients even more worth for money, assisting them to get the most advantage out of their information technology investments.
“We have been awfully stunned with the wisdom of the leadership group and engineering skill across several strategic safety matters, and are assured that we can assist grow and speed up the company and create even more value for Barracuda partners and customers all over the world,” stated Seth Boro, a managing partner at Thoma Bravo.