Thoma Bravo has paid $1.6bn to purchase Barracuda Networks, a provider of cloud-enabled security and data protection solutions.
Headquartered in Campbell, California, Barracuda’s security platform helps IT professionals simplify the way they purchase, deploy, manage and protect their workloads and applications. Its product portfolio spans across email security and management, network and application security, and data protection solutions that can be deployed and centrally managed in cloud and hybrid environments.
The company’s solutions are used by over 150,000 organisations around the world, in sectors such as financial services, healthcare, retail, government and education.
With internet technologies changing the way services are delivered, regulations multiplying, and malware attacks on the rise, financial services providers are under increasing pressure to maintain the privacy of their customers and the security of their confidential data.
Designed for today’s hybrid, cloud-connected IT infrastructures, Barracuda claims its solutions work together seamlessly to help create a fully integrated security infrastructure that gives total visibility and control—without turning security management into a full-time job.
Attackers are increasingly using ransomware against financial services organizations of all types including banks, credit unions, and more. Barracuda also provides a complete family of solutions that work together to help detect, prevent, and recover from ransomware attacks. The company also provides services to protect websites against data breaches, DDoS, and defacement, maximize gateway security and firewall, and simplify eDiscovery and compliance.
“Barracuda is an established global brand that delivers powerful, purpose-built security and data protection solutions that are easy to use and manage,” said BJ Jenkins, chief executive officer of Barracuda. “We are excited to work with Thoma Bravo and remain focused on continuing to expand our industry-leading portfolio that helps customers maximize their IT investments across highly distributed, diverse cloud and hybrid environments.”
The General Data Protection Regulation (GDPR), which is implemented in May, imposes additional requirements for companies that collect or store personal data of European Union residents. Barracuda Networks said it is taking steps to secure and protect data whenever it is stored in our cloud or other infrastructure. “We have established a number of measures to ensure that customers and their data are treated in a manner consistent with privacy principles. Therefore, we are preparing for the GDPR requirements across our cloud services and infrastructure by the enforcement date of May 25, 2018,” the company said on its website.
Last year, Barracuda acquired cloud archiving solution Sonian, enabling the company to deepen its cloud archiving, email security and management capabilities.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
