SecurityWeek reports that Barracuda Networks is poised to be acquired by investment company KKR from private equity firm Thoma Bravo for nearly $4 billion.
Barracuda, which was founded in 2003, was able to strengthen its email, network, and web security solutions since being purchased by Thoma Bravo in 2018, resulting in revenues exceeding $500 million.
"We believe that with the support of KKR, we will continue to 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 leading cybersecurity solutions for our customers and partners. We are very appreciative of Thoma Bravo's support and very excited to be working with KKR on this next phase of Barracuda’s journey," said Barracuda CEO Hatem Naguib.
KKR Managing Director Bradley Brown also noted the opportunity with the Barracuda acquisition. "We see a tremendous opportunity for long-term growth as these businesses continue to invest more in cybersecurity and we look forward to helping Barracuda scale and deliver next-generation products that meet this growing need," Brown said.
Canada had its various government agencies and financial and transportation industries subjected to distributed denial-of-service attacks by pro-Russian cybercrime operation NoName057(16), according to SecurityWeek.