CAMPBELL, Calif., Feb. 12,
2018 /PRNewswire/ -- Thoma Bravo, LLC., a leading private
equity investment firm, today announced that it has completed its
acquisition of Barracuda Networks, Inc., a leading provider of
cloud-enabled security and data protection solutions, in an
all-cash transaction valued at $1.6 billion.
Barracuda protects the networks, applications and data for more
than 150,000 customers worldwide. Barracuda's security platform
helps IT professionals simplify the way they purchase, deploy,
manage and protect their workloads and applications across diverse
and distributed networks. The company offers an expansive product
portfolio across email security and management, network and
application security, and data protection solutions that can be
deployed and centrally managed in cloud and hybrid
environments.
"Barracuda is an established global brand that delivers
powerful, purpose-built security and data protection solutions that
are easy to use and manage," said BJ Jenkins, chief executive
officer of Barracuda. "We are excited to work with Thoma Bravo and
remain focused on continuing to expand our industry-leading
portfolio that helps customers maximize their IT investments across
highly distributed, diverse cloud and hybrid environments."
"Barracuda's built a solid product portfolio that addresses many
of the most complex problems facing IT professionals today, and we
are thrilled to work with the management team to push the company's
leadership position even further," said Seth Boro, a managing partner at Thoma Bravo.
"We've been extremely impressed with the depth of the leadership
team and engineering expertise across a number of strategic
security areas, and are confident that we can help expand and
accelerate the business and create even greater value for Barracuda
customers and partners worldwide."
Financing for the transaction was provided by Goldman Sachs
& Co. LLC, Credit Suisse, and UBS Investment Bank. Goldman
Sachs & Co. LLC, Credit Suisse, and UBS Investment Bank also
served as financial advisors to Thoma Bravo.
About Barracuda Networks,
Inc.
Barracuda simplifies IT with cloud-enabled solutions that empower
customers to protect their networks, applications and data,
regardless of where they reside. 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. Barracuda's customer-centric
business model focuses on delivering high-value, subscription-based
IT solutions that provide end-to-end network and data protection.
For additional information, please visit barracuda.com.
Barracuda Networks, Barracuda, and the Barracuda Networks logo
are registered trademarks of Barracuda Networks, Inc. in the U.S.
and other countries.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the
software and technology-enabled services sectors. With a series of
funds representing more than $18 billion in capital
commitments, Thoma Bravo partners with a company's management team
to implement operating best practices, invest in growth initiatives
and make accretive acquisitions intended to accelerate revenue and
earnings, with the goal of increasing the value of the business.
Representative past and present portfolio companies include
industry leaders such as Blue Coat Systems, Deltek, Digital
Insight, Global Healthcare Exchange, Hyland Software, iPipeline,
PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta
Systems and TravelClick. The firm has offices in San
Francisco and Chicago. For more information,
visit thomabravo.com.
Jonelle Elam
Barracuda Networks, Inc.
408-342-6415
jelam@barracuda.com
Jesse Kimbrel
Barracuda Networks, Inc.
408-342-5683
jkimbrel@barracuda.com
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SOURCE Barracuda Networks, Inc.