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KKR to acquire Barracuda Networks

Global investment firm KKR is to purchase Barracuda Networks Inc, a provider of cloud-first security solutions, from Thoma Bravo, a software investment firm.

Financial terms of the deal have not been disclosed.

Founded in 2003, Barracuda offers a broad suite of cybersecurity solutions across email protection, application security, network security and data protection that can be deployed and managed in both cloud and hybrid environments. The Company focuses on serving small and medium sized enterprises (SMEs) and has more than 200,000 customers worldwide across a variety of industries, including education, government, financial services, health care, retail, consumer goods and manufacturing.

Barracuda will implement KKR’s broad-based employee ownership programme, which makes all employees owners in their respective businesses alongside KKR. This strategy is based on the belief that employee engagement is a key driver in building stronger companies. Since 2011, KKR has awarded billions of dollars of total equity value to over 45,000 non-management employees across more than 25 companies.

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