Sam Boughedda

Investing.com — An investment firm KKR & Co LP (NYSE) on Tuesday announced it had signed a definitive deal to purchase Barracuda Networks Inc. from Thoma Bravo.

KKR shares were down 1.3% on Tuesday

Barracuda was started in 2003. It specializes in small and medium-sized business cybersecurity.

Reuters earlier reported that KKR would acquire Barracuda at a price of around $4 billion. 

“Barracuda has built an impressive portfolio of solutions that are helping SMEs around the world protect their data and address critical security challenges,” said Bradley Brown, Managing Director at KKR. 

”We see a tremendous opportunity for long-term growth as these businesses continue to invest more in cybersecurity and we look forward to helping Barracuda scale and deliver next generation products that meet this growing need,” added Brown.