On Tuesday, KKR & Co Inc announced plans to purchase cybersecurity startup Barracuda Networks from its private equity owner, Thoma Bravo, showing buyout firms’ persistent interest in cybersecurity industries. Financial parameters were not disclosed in the deal, which confirmed an earlier Reuters report. Barracuda Networks, situated in California, was valued at around $4 billion, according to sources who requested anonymity.

Cybersecurity dealmaking has increased in recent months as the epidemic has expedited the transition to remote working, requiring corporations to increase spending in the field. The invasion of Ukraine by Russia has also resulted in an increase in cyberattacks.

On Monday, Thoma Bravo announced the acquisition of cybersecurity business SailPoint Technologies, while Datto, a security solutions provider, was taken private in a $6.2 billion deal headed by Insight Partners.

According to Reuters, KKR is considering a sale or an IPO for Optiv Security Inc, a cybersecurity solutions distributor and consultant in the United States that it owns and controls at a valuation of more than $3 billion, including debt. find out more

Barracuda, which was founded in 2003, controls its customers’ data security in the cloud on a subscription basis, offering services such as email protection, software and cloud security, network security, and data protection.

Four years after becoming public, Thoma Bravo took the company private in 2017. According to KKR, Barracuda has developed into a company that earns over $500 million in yearly revenue. It has also completed a number of acquisitions, including SKOUT Cybersecurity’s expanded detection and response service and Fyde’s zero-trust access provider.

According to KKR, the Barracuda purchase would be completed by the end of 2022. KKR, which manages $471 billion in assets, has a long history of investing in cybersecurity firms. ForgeRock, Ping, Cylance, and DarkTrace are among the companies in which it has invested.

Thoma Bravo and Barracuda were advised by J.P. Morgan, while KKR was advised by Guggenheim Securities, DBO Partners, and Barclays.

(Adapted from Nasdaq.com)