Barracuda Networks accepted a $1.6 billion all-cash buyout offer from private equity firm Thoma Bravo, the company announced Monday.
"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," BJ Jenkins, Barracuda CEO, said in a statement, noting that Thoma Bravo has a history of investing in growing security companies.
Barracuda will continue to focus on email security and management, network and application security, as well as data protection in the cloud and under hybrid on-premise and hosted environments.
The deal is expected to close by Feb. 28, according to Barracuda.
Read more about the Barracuda deal here.