Private Equity Firm Thoma Bravo Snaps Up Barracuda Networks
Private equity firm Thoma Bravo on Monday said it will acquire cybersecurity firm Barracuda Networks (CUDA) in a cash deal valued at $1.6 billion.
XAutoplay: On | OffShareholders of Campbell, Calif.-based Barracuda will receive $27.55 in cash per share. Barracuda said that’s a 22.5% premium to its 10-day average stock price prior to the deal’s announcement.
Barracuda provides email protection tools and has been transitioning to cloud-based security from network hardware.
Thoma Bravo in 2016 acquired Qlik Technologies, a data analytics software maker, for $3 billion.
Acquisitions by private equity companies have slowed in 2017 amid uncertainty over corporate tax reform. Thoma Bravo reportedly has kicked the tires at Impera as well as F5 Networks (FFIV), a maker of data center networking gear.