The investing entity KKR has bought Barracuda Networks. It is unknown, however, how much he is going to pay to keep her to her current owner, the venture capital fund Thoma Bravo. Barracuda Networks is responsible for the development of security products for the protection of email, applications, network security and data. Its products are designed above all for SMEs, and it currently has more than 20,000 customers.
This company changed hands back in 2017, when Thoma Bravo turned it into a private company thanks to a $1.6 billion deal. In that year, the company’s annual revenue was around $400 million. On this occasion, as we have mentioned, it is not known exactly how much is going to be paid for the change of hands (several sources speak of 4,000 million dollars), but it is known, because it has been confirmed by KKR, that Barracuda’s income Networks are already around 500 million dollars a year.
KKR, which hopes that the purchase agreement will be definitively closed before the end of this year 2022 due to the good reception of the purchase by all the parties involved, has indicated that it intends to finance the expansion of the company in the areas of detection and managed response, as well as extended threat detection and response. But they also seek to deepen in SASE technology, that is, in the technology of secure access services to the edge.
Bradley Brown, CEO of KKRhas underlined that the company sees for Barracuda Networks «a tremendous opportunity for long-term growth“, and wait “help Barracuda scale and deliver next-generation products that meet their growth needs«.
As for the Barracuda Networks CEO Hatem Naguibin addition to thanking its until now owners, Thoma Bravo, has highlighted that «With the support of KKR, we will continue to invest in growth and cultivate a culture that gives our teams the resources and inspiration to continue creating and delivering the next generation of leading cybersecurity solutions for our customers and partners.«.
