Barracuda Networks has changed ownership as KKR buy the cybersecurity vendor from Thoma Bravo.
Under Thoma Bravo, Barracuda executed several acquisitions and pushed the company’s revenue in excess of $500m.
KKR will accelerate the Company’s growth and support its strategic expansion in managed detection and response, extended detection and response, and secure access service edge technology.
Barracuda will implement KKR's employee ownership program, which makes all employees owners in their respective businesses alongside KKR.
Hatem Naguib, CEO of Barracuda, said: “With the support of KKR we will 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 cybersecurity solutions for our customers and partners.”
John Park, Head of Americas Technology Private Equity at KKR, added: “We continue to see cybersecurity as a highly attractive sector and are excited to back a leader in the space.“
The transaction is anticipated to close by the end of the year, subject to customary conditions.