![KKR to acquire Barracuda from Thoma Bravo in a $4 bln deal KKR to acquire Barracuda from Thoma Bravo in a $4 bln deal](https://varindia.com/storage/news/uploads/2018/02/6257dd3c485ee.jpg)
KKR & Co Inc has announced plans to buy cybersecurity firm Barracuda Networks from its private equity owner Thoma Bravo. The company highlighted their continued interest in cybersecurity businesses from buyout firms. According to the sources the deal valued California-based Barracuda Networks at about $4 billion, including debt. The deal is set to close by the end of 2022. J.P. Morgan acted as financial advisor for Thoma Bravo and Barracuda, while Guggenheim Securities, DBO Partners and Barclays advised KKR.
As the pandemic accelerated the shift to remote working, deal making in cybersecurity has jumped in recent months forcing companies to ramp up spending in the sector. Russia's invasion of Ukraine has also led to a spike in cyberattacks.
Thoma Bravo agreed to buy cybersecurity firm SailPoint Technologies, while Datto, a security solutions provider, was also taken private in a $6.2 billion deal by investors led by Insight Partners.
Thoma Bravo took the company private in 2017, four years after it went public. Barracuda has since grown into a business that generates over $500 million in annual revenue, KKR said. It has also made a series of acquisitions, including buying extended detection and response service SKOUT Cybersecurity and zero-trust access provider Fyde.
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