Barracuda agrees to be acquired by Thoma Bravo for $27.55 per share in cash
Barracuda Networks (CUDA) announced that it has entered into an agreement to be acquired by private equity investment firm Thoma Bravo in an all-cash transaction valued at $1.6B.
Barracuda shareholders of record will receive $27.55 in cash for each share of Barracuda common stock they hold.
This price exceeds Barracuda’s 52-week high and represents a premium of 22.5% to the company’s 10-day average stock price prior to Nov. 27, the company noted.
Upon the close of the transaction, Barracuda will operate as a privately-held company with a continued focus on email security and management, network and application security, and data protection solutions that can be deployed in cloud and hybrid environments.
The proposed transaction, which has been unanimously approved by Barracuda’s Board of Directors, 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.
CUDA closed at $23.69.
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