KKR has announced it will buy cybersecurity firm Barracuda Networks from its private equity owner Thoma Bravo. The deal to acquire Barracuda will close by the end of 2022.
While KKR did not disclose the financial terms of the deal in its announcement, sources close to the deal said the acquisition will cost KKR about $4 billion.
Various investments and acquisitions are underway in the field of cybersecurity. The trend that began during the pandemic, when organizations switched to remote work, does not seem to be wavering so quickly.
KKR is a prolific investor in cybersecurity companies with $471 billion in assets under management.
Barracuda, a cybersecurity company, manages the data security of its customers over the cloud on a subscription basis. The company offers a range of services, including email protection, software, cloud security, network security, and data protection.
Barracuda was founded in 2003 however, Thoma Bravo took it private in 2017, four years after its initial public. The company now generates more than $500 million in annual revenue.