Media Releases

Barracuda agrees to be acquired by Thoma Bravo

November 30, 2017

The private equity investment firm will acquire Barracuda in an all-cash transaction valued at USD 1.6 billion.

Barracuda Networks, a leading provider of cloud-enabled security and data protection solutions, announced that it has entered into an agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC. In an all-cash transaction valued at USD 1.6 billion.

Barracuda shareholders of record will receive USD 27.55 in cash for each share of Barracuda common stock they hold. This price exceeds Barracuda’s 52-week high and represents a premium of 22.5 percent to the Company’s 10-day average stock price prior to Nov. 27, 2017, of USD 22.49. Barracuda’s Board of Directors unanimously approved the agreement, and believes the transaction maximizes shareholder value. Upon the close of the transaction, Barracuda will operate as a privately-held company with a continued focus on email security and management, network and application security, and data protection solutions that can be deployed in cloud and hybrid environments.

“We believe the proposed transaction offers an opportunity for us to accelerate our growth with our industry-leading security platform that’s purpose-built for highly distributed, diverse cloud and hybrid environments. We will continue Barracuda’s tradition of delivering easy-to-use, full-featured solutions that can be deployed in the way that makes sense for our customers,” said BJ Jenkins, chief executive officer of Barracuda. “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. 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,” said Seth Boro, a managing partner at Thoma Bravo. “We believe that Barracuda is at the forefront of innovation in several highly strategic areas of the cybersecurity market and are excited to be the company’s partner in the next phase of its growth.”

The proposed transaction is expected to close before Barracuda’s fiscal year end of Feb. 28, 2018, and is subject to approval by Barracuda’s shareholders and regulatory authorities, and the satisfaction of other customary closing conditions.

RECOMMENDED Partner Content