Include:
Tech
Cybersecurity
Business Strategy
Channel Insights
Stay Connected
Acer America
Acer America Corp. is a computer manufacturer of business and consumer PCs, notebooks, ultrabooks, projectors, servers, and storage products.

Location

333 West San Carlos Street
San Jose, California 95110
United States

WWW: acer.com

ChannelPro Network Awards

hello 2
hello 3

News & Articles

November 27, 2017 |

Thoma Bravo Buys Barracuda Networks

Announced at a time of accelerating vendor consolidation, the $1.6 billion deal adds a major security and backup player to a portfolio of holdings that already included Continuum, SolarWinds, and Bomgar, as well as a minority stake in McAfee.

Security and backup vendor Barracuda Networks Inc., of Campbell, Calif., has agreed to be acquired by Chicago-based private equity firm Thoma Bravo LLC, in an all-cash transaction valued at $1.6 billion.

The deal adds a well-known security and backup vendor with a strong background in safeguarding cloud environments and a recently re-branded managed services arm to an expanding portfolio of vendors well known among channel pros.

In June, Thoma Bravo bought managed services software maker Continuum from fellow equity investor Summit Partners for an undisclosed sum. It also purchased SolarWinds Worldwide LLC—and with it the SolarWinds MSP unit that now houses the former N-able and LOGICnow product lines—for $4.5 billion last year, in partnership with affiliates of venture capital firm Silver Lake Partners.

Thoma Bravo owns secure access vendor Bomgar and holds a minority stake in security vendor McAfee LLC as well.

“Barracuda is a proven industry leader, consistently bringing powerful, comprehensive solutions to customers in an increasingly prevalent, hostile, and complex threat environment,” said Seth Boro, a managing partner at Thoma Bravo, in prepared remarks. “We believe that Barracuda is at the forefront of innovation in several highly strategic areas of the cybersecurity market and are excited to be the company’s partner in the next phase of its growth.”

Barracuda, for its part, said that embracing private ownership would arm the company for faster growth. The company’s revenues rose seven percent on a year-over-year basis in its most recently completed fiscal quarter.

“We believe the proposed transaction offers an opportunity for us to accelerate our growth with our industry-leading security platform that’s purpose-built for highly distributed, diverse cloud and hybrid environments,” said Barracuda CEO BJ Jenkins in a press statement that downplayed the possibility of disruption to the company’s strategy and roadmap.

“We will continue Barracuda’s tradition of delivering easy-to-use, full-featured solutions that can be deployed in the way that makes sense for our customers,” Jenkins said. “Thoma Bravo has an excellent history of investing in growing security businesses, and this transaction speaks to the value and strength of Barracuda’s security platform, which helps customers protect and manage their networks, applications, and data. I expect that our employees, customers, and partners will benefit from this partnership.”

Thoma Bravo’s latest acquisition comes at a time of accelerating consolidation among key players in the SMB channel. In October, to cite a recent and prominent example, business continuity vendor Datto Inc. agreed to be purchased by Vista Equity Partners, which merged it with managed services software maker Autotask Corp.

“Today’s news is a strong indication of the growing demand for MSP-centric solutions for storage and backup,” said Datto Chief Marketing Officer Peter Rawlinson in prepared remarks provided to ChannelPro. “The recent merger between Datto and Autotask puts us in a very strong position to address the backup and recovery needs of hundreds of thousands of small businesses globally through MSPs. I’m sure we haven’t seen the last of the activity in this market.”

Today’s acquisition is the second involving Barracuda this month. The company bought public cloud archiving vendor Sonian Inc. three weeks ago. Terms of that deal were not disclosed.

Barracuda expects the Thoma Bravo deal to close before the end of its fiscal year next February. The transaction is subject to approval by the vendor’s shareholders, as well as regulatory authorities.


Editor’s Choice

Introducing ChannelPro’s Top 20 MSPs for 2024

June 18, 2024 |

These companies lead the way in building up the IT channel, as well as ensuring that their clients run thriving businesses.

Midwest MSPs Treated to Personal Stories, Compelling Demos, and More at ChannelPro LIVE: Columbus Show

June 7, 2024 |

Ohio technology professionals joined ChannelPro to share business best practices at the area’s first-of-its-kind event.

AI-as-a-Service Takes Shape for 3 MSPs

June 4, 2024 |

AvTek Solutions, LAN Infotech, and PCH Technologies share how they are working with the new AI-as-a-Service platform in their day-to-day business.


Related News & Articles

Growing the MSP

Explore ChannelPro

Events

Reach Our Audience