KKR acquires Barracuda Networks. The venture capitalist is taking the reins from Thoma Bravo, Barracuda’s previous owner.
The acquisition price wasn’t disclosed. Insider sources indicate a sum of 4 billion dollars (3.7 billion euros). KKR wants to further expand Barracuda Networks’ activities. Currently, the security specialist primarily focuses on e-mail, application, network protection and data protection and services for Managed Service Providers (MSPs). Reportedly, the portfolio will expand considerably shortly. Think managed detection and response services and XDR.
Strikingly, KKR indicates that Barracuda’s employees will all become co-owners of the departments in which they work. According to the venture capitalist, employee participation is key to achieving better business results. Barracuda’s current management will remain in place to run the organization under its current name.
KKR is no stranger to cybersecurity. The venture capitalist previously invested in Ping Identity and Cylance. These security specialists were later integrated into BlackBerry, Darktrace and ForgeRock.