Investment Firm KKR Completes Acquisition of Barracuda Networks

KKR & Co. Inc., an investment firm, and Barracuda Networks, Inc. announced that KKR’s investment funds have completed an acquisition of Barracuda from Thoma Bravo, LLC, a software investment firm.

Financial terms of the transaction were not disclosed.

Barracuda is a cloud-first provider of cybersecurity solutions for SMEs. More than 200,000 customers worldwide count on this company 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, Barracuda. “We’re grateful to Thoma Bravo for their valuable strategic and operational support over the last 4 years.”

“We are excited to complete this transaction and begin working with the Barracuda team to support their continued growth and delivery of next gen cloud-first cybersecurity solutions that protect SMEs from an evolving landscape of threats,” said John Park, partner, KKR.

“Barracuda has been a tremendous partner over the last four years and has experienced strong product, customer and revenue growth,” said Chip Virnig, partner, 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.”

J.P. Morgan served as exclusive financial advisor to Thoma Bravo and Barracuda. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo and Barracuda. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Guggenheim Securities, DBO Partners and Barclays served as financial advisors to KKR.