KKR completes acquisition of Barracuda from Thoma Bravo

Barracuda Networks, Inc. (“Barracuda” or the “Company”), a provider of cloud-first security solutions, and KKR, a global investment firm, announced that KKR’s investment funds have completed an acquisition of Barracuda from Thoma Bravo, a software investment firm. The transaction’s financial terms were not disclosed.

Barracuda is a cloud-first cybersecurity solution provider for small and medium-sized businesses (SMEs). Barracuda is trusted by over 200,000 customers worldwide to protect their email, networks, applications, and data.

“We’re 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‘re grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.” 

“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. 

“Barracuda has been a tremendous partner over the last four years and has experienced strong product, customer and revenue growth,” said Chip Virnig, a Partner at Thoma Bravo. “We have enjoyed working closely with Hatem and his team through multiple acquisitions and operational improvements, and we are confident that the company is well-positioned for continued success.”

Thoma Bravo and Barracuda’s exclusive financial advisor was J.P. Morgan. Thoma Bravo and Barracuda were represented by Kirkland & Ellis LLP. KKR’s legal counsel was Simpson Thacher & Bartlett LLP. KKR was advised financially by Guggenheim Securities, DBO Partners, and Barclays.