By Sam Boughedda
Investing.com -- Investment firm KKR & Co LP (NYSE:KKR) announced Tuesday that it has signed a definitive agreement to acquire Barracuda Networks Inc, a cloud security company, from Thoma Bravo.
KKR shares fell 1.3% on Tuesday.
Barracuda was founded in 2003 and focuses on serving small and medium-sized businesses, offering cybersecurity solutions across email protection, application security, network security, and data protection.
Reuters reported earlier today that KKR will acquire Barracuda for around $4 billion.
“Barracuda has built an impressive portfolio of solutions that are helping SMEs around the world protect their data and address critical security challenges,” said Bradley Brown, Managing Director at KKR.
”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," added Brown.