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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. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. 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. 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 ", "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. 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. Barracuda's Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. Its the same company, he said. The deal, the terms of which were not disclosed,. About Thoma Bravo, LLCThoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. Discovery Company profile page for Herzog Technologies, Inc. including technical research,competitor monitor,market trends,company profile& stock symbol Please click on "I understand" to view the presentation. "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. J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. Complete security that stops all 13 email threat types and protects Microsoft 365 data. "Thoma Bravo has an excellent history of investing in growing security businesses, and this transaction speaks to the value and strength of Barracuda's security platform, which helps customers protect and manage their networks, applications, and data. At Barracuda we strive to make the world a safer place. SKOUT provides Cyber as a Service software for Managed Service Providers (MSPs), as well as an extended detection and response (XDR) platform and service. 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. Under the terms of the agreement, Datto stockholders will receive $35.50 per share in a transaction that values Datto at approximately $6.2 billion. Stop bots from scraping confidential data, skewing web analytics, and impairing website performance. BARRACUDA ACQUISITIONCO, INC. is a Delaware Domestic Corporation filed on August 9, 2021. Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). J.P. Morgan is serving as exclusive financial advisor to Thoma Bravo and Barracuda. While Barracuda's acquisition in 2013 by Thoma Bravo helped the company a lot in transforming itself into a cloud-first company with a modern comprehensive portfolio, they think KKR is even better situated to Barracuda's current stage of the growth cycle. Simpson Thacher & Bartlett LLP is serving as legal counsel to 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. Thoma Bravo to Acquire ABC Financial Services, Inc. Protect students and faculty from ransomware and other cyber attacks. Protect websites and apps from advanced cyber-threats. This press release features multimedia. [33] 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. Privacy Policy |Website Terms & Conditions. The transaction is anticipated to close by the end of the year, subject to customary conditions. The SKOUT acquisition last year, which added a SOC and XDR capability, was a particularly great acquisition. View the full release here: https://www.businesswire.com/news/home/20220412005856/en/. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. 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. To get growth, you have to invest.. Protect patient data and avoid disruptions that could affect patient care. Acquisition from Thoma Bravo to further accelerate growth of leading cybersecurity software provider. - Collaborate with . Still, this isn't just about about RMM software and an anti-virus partnership. Barracudas are found in all warm and tropical regions; some also range into more temperate areas. Get started in minutes. We look forward to watching Barracudas continued success.. Additional Information and Where to Find ItIn connection with the transaction, the Company will file relevant materials with the SEC, including a preliminary proxy statement on Schedule 14A. 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. Email. Your email address will not be published. "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. For more information, visit www.thomabravo.com. Financing for the transaction is being provided by Goldman Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank. Barracuda is a provider of powerful, easy-to-use, affordable IT solutions for security and storage. Enter a Master Password for the Barracuda Network Access Client. Barracuda has since grown into a business that generates over $500 million in annual revenue, KKR said. 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. KKR & Co. announced Tuesday it's agreed to buy Barracuda from Thoma Bravo LP. Fill out this form to get a full-featured version of Barracuda Cloud-to-Cloud Backup free for 14 days. Our channel is supremely important to us. Browse our security and network solutions designed specifically for AWS. I expect that our employees, customers, and partners will benefit from this partnership., Barracuda is a proven industry leader, consistently bringing powerful, comprehensive solutions to customers in an increasingly prevalent, hostile, and complex threat environment, saidSeth Boro, a managing partner at Thoma Bravo. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies. The forward-looking statements are based on KKRs beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. Notify me of followup comments via e-mail. The forward-looking statements included in this press release represent Barracuda's views as of the date of this press release. KKRs insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. Facsimile: +1 (212) 750-0003 Envision yourself at Barracuda! Copy link. 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. Barracuda will implement KKRs broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. 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. The firm currently manages a series of private equity and debt funds representing more than $17.0 billion of capital commitments. https://www.businesswire.com/news/home/20220412005856/en/. 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. 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. The transaction is anticipated to close by the end of the year, subject to customary conditions. 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. About Barracuda Networks, Inc. (NYSE: CUDA) Barracuda simplifies IT with cloud-enabled solutions that empower customers to protect their networks, applications and data, regardless of where they reside. 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. . 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 We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. In addition, KKRs business strategy is focused on the long-term and financial results are subject to significant volatility. We are seeking talented, motivated sales performers who thrive in quick sales cycle environment. About Barracuda Networks, Inc. (NYSE:CUDA)Barracuda simplifies IT with cloud-enabled solutions that empower customers to protect their networks, applications and data, regardless of where they reside. 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. "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 . More than 220,000 global customers trust Barracuda to safeguard their employees, data, and applications from a . Financial terms were not disclosed. ", "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. Get protection that goes beyond next-generation firewalls. 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. References to KKRs investments may include the activities of its sponsored funds and insurance subsidiaries. Barracuda will implement KKR's broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. Participants in the SolicitationThe Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Companys stockholders with respect to the transaction. Thoma invested in us and reset how we went to market, reset the back end to the cloud, and upgraded our portfolio. 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. Available in PDF, EPUB and Kindle. 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. One change that will take place will be the introduction of KKRs broad-based employee ownership program, which is based on the belief that employee engagement is a key driver in building stronger companies. Protect your business and users from ransomware attacks in three easy steps. Rumors about Barracuda being up for sale have hit MSSP Alerts email inbox multiple times in recent weeks. According to the statement released today, Broadway will use the acquisition to further expand its product suite. For more information, visit www.thomabravo.com. Naguib confirmed that the existing Barracuda leadership team will not be going anywhere with the ownership change. e-mail. Now we are out of that transformation and into a growth phase. 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. Automate security policy compliance in the cloud. 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. Facebook. 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. But MSPs have been a top go-to-market channel for Barracuda since about 2016 or so. 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. 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. For additional information, please visitbarracuda.com. Get SaaS backup for your Microsoft 365 data with unlimited storage. in an all-cash transaction valued at $1.6 billion. Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold. When we were acquired by Thoma Bravo, we were a public company, but we had no ability to transform ourselves. Finsbury Glover Hering KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. We believe every business deserves access to cloud-first, enterprise-grade security solutions that are easy to buy, deploy, and use. 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 . jelam@barracuda.com, For KKR: 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. There has been an evolution in these PE [private equity] partners, and which is the best fit for a company comes down to where the company is in their lifecycle, said Hatem Naguib, CEO of Barracuda. Job ID: 23-831. Under Thoma, Barracuda made acquisitions, although not as many as some companies who pursued an ultra-aggressive strategy in that regard. Supported by our Lead Development team, you will balance receiving . 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. The transaction is expected to close by the end of the year, so obviously nothing will happen until then, but Naguib said that partners shouldnt expect any unpleasant surprises when the deal does go through. Barracuda is the digital marketing agency that can help you surface real value We're a London based digital marketing agency Based out of Waterloo in London, we're an independent digital marketing agency all about delivering value to our clients. 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. Zoom Video Communications, Inc. (NASDAQ:ZM) Q4 2023 Earnings Call Transcript February 27, 2023 Kelcey McKinley: Well. 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. Shareholders to Receive $27.55 per Share in Cash. 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.