Security Experts:

Connect with us

Hi, what are you looking for?



KKR to Acquire Barracuda Networks From Thoma Bravo

Investment giant KKR has agreed to acquire Barracuda Networks from private equity firm Thoma Bravo, the firms announced Tuesday.

Investment giant KKR has agreed to acquire Barracuda Networks from private equity firm Thoma Bravo, the firms announced Tuesday.

Financial terms were not disclosed, but Reuters reported the value to be nearly $4 billion, citing sources familiar with the deal.

Thoma Bravo took Barracuda private in a $1.6 billion deal that was completed in February 2018.

Barracuda NetworksFounded in 2003, Barracuda is best known for its email, web and network security solutions, and counts than 200,000 customers around the world.

During Thoma Bravo’s ownership, the investment firm says Barracuda expanded and enhanced its cybersecurity offerings which led the company to more than $500 million in revenue.

“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. “We are very appreciative of Thoma Bravo’s support and very excited to be working with KKR on this next phase of Barracuda’s journey.”

“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. ”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.”

KKR’s investment in Barracuda adds to other investments it has made in the cybersecurity sector, including Ping, Cylance, DarkTrace, ForgeRock, NetSPI and Optiv, and others.

The transaction is expected to close by the end of the year, subject to customary conditions.

In related M&A activity, Thoma Bravo earlier this week announced plans to spend $6.9 billion to acquire identity and access management firm SailPoint.

Read: SecurityWeek Study: Over 430 Cybersecurity Mergers & Acquisitions Announced in 2021

Written By

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join this webinar to learn best practices that organizations can use to improve both their resilience to new threats and their response times to incidents.


Join this live webinar as we explore the potential security threats that can arise when third parties are granted access to a sensitive data or systems.


Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

M&A Tracker

The SecurityWeek editorial team huddled over the holidays to look back at the stories that shaped 2022 and, more importantly, to stare into a...

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Identity & Access

Zero trust is not a replacement for identity and access management (IAM), but is the extension of IAM principles from people to everyone and...


More than 450 cybersecurity-related mergers and acquisitions were announced in 2022, according to an analysis conducted by SecurityWeek


Forty cybersecurity-related M&A deals were announced in January 2023.

Network Security

NSA publishes guidance to help system administrators identify and mitigate cyber risks associated with transitioning to IPv6.