Barracuda Networks (CUDA) to be acquired by Thoma Bravo for $1.47 billion in cash

Update 4/12/22: KKR to acquire Barracuda Networks Inc. from Thoma Bravo; financial terms were not disclosed.

    

• Barracuda provides email protection tools and has been transitioning to cloud-based security from network hardware.
• Thoma Bravo in 2016 acquired Qlik Technologies, a data analytics software maker, for $3 billion.
• Thoma Bravo reportedly has kicked the tires at Impera as well as F5 Networks (FFIV), a maker of data center networking gear.

  

Nov 27 (Reuters) - Barracuda Networks Inc on Monday agreed to be taken private by buyout firm Thoma Bravo LLC for $1.47 billion in cash, four years after the data security firm went public.

The offer of $27.55 per share represents a premium of 16.3 percent to Barracuda's Friday close. The company's shares were trading at $27.51.

Barracuda, which manages data security of its customers over the cloud on a subscription basis, competes with Palo Alto Networks Inc, Proofpoint Inc and Symantec Corp .

Barracuda will operate as a privately-held company and continue to focus on email security and data protection services. The transaction is expected to close by the end of February.

Thoma Bravo, known for its investments in software and technology companies, has spent billions buying several listed companies such as Qlik Technologies, Riverbed Technology, SolarWinds and Compuware.

Morgan Stanley & Co LLC is Barracuda's financial adviser, while Goldman Sachs & Co LLC, Credit Suisse and UBS Investment Bank were advisers to Thoma Bravo.