Barracuda Networks has announced an agreement to be acquired for $1.6 Billion by Thoma Bravo, LLC., a private equity firm. The deal will help to accelerate the growth of its security platform and maximise shareholder value, according to Barracuda.
“Today’s news is a strong indication of the growing demand for MSP-centric solutions for storage and backup,” said Pete Rawlinson, CMO of Datto.
After going public in 2013, Barracuda will return to the private sector under the new deal. The proposed transaction is expected to close before Barracuda's fiscal year end of Feb. 28, 2018, and is subject to approval by Barracuda's shareholders and regulatory authorities, and the satisfaction of other customary closing conditions.
“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,” added Rawlinson. “I’m sure we haven’t seen the last of the activity in this market.”
The Barracuda news, coupled with our own recent M&A activity, is just another indicator of the solid MSP-centric business model. Stories like these serve to reinforce what we already know to be true: for SMBs, as the IT landscape continues to shift in new and complex ways, the role of the MSP has become more important than ever before.
As we prepare for another exciting year at Datto and for the industry as a whole, we will continue to put our partners first, and invest in our software, hardware, and private cloud to provide the premier solutions for MSPs.