Private equity giant Thoma Bravo has agreed today to buy Barracuda Networks1 in a take-private deal that s valued at $1.6 billion . The company was offered $27.55 per share, about 16% above Friday s close. Though above Barracuda s 52-week high, the price is down from the over $40 per share where the stock was trading in 2015 . Barracuda went public in 2013. Campbell, California-based Barracuda, which competes with Palo Alto Networks and Symantec, provides security for cloud-connected networks and applications .
The company touts clients like Boeing, Microsoft and the U.S . Department of Defense. 2Barracuda says it has over 150,000 customers.
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, said BJ Jenkins, chief executive officer of Barracuda, in a statement . We will continue Barracuda s tradition of delivering easy-to-use, full-featured solutions that can be deployed in the way that makes sense for our customers. The deal is expected to close by the end of February. Founded in 2003, Barracuda Networks raised at least $46 million in venture funding prior to its IPO .
Sequoia Capital and Francisco Partners were amongst its largest shareholders at the time it went public. Thoma Bravo is a Chicago and San Franciso-based private equity giant with $17 billion under management . Other portfolio companies include Compuware, McAfee and SailPoint, which recently went public.3
Private equity firms began more aggressively buying up software companies last year, their apparent thinking being that they can generate reliable returns from such investments . The biggest take-private deals in the last 18 months include the sale of U.S . data analytics firm Qlik Technologies to Thoma Bravo for about $3 billion4 in June 2016; Marketo, a marketing software giant that went public in 2013 and was taken private again by Vista Equity Partners last year for $1.79 billion5 in cash; and the sale of event-management company Cvent last year to Vista Equity Partners in a $1.65 billion6 deal.
Morgan Stanley advised Barracuda on the deal . Goldman Sachs, Credit Suisse and UBS worked with Thoma Bravo. Here s a look at Barracuda s stock chart, since it went public about four years ago.
Featured Image: Dmitry Miroshnikov/Getty Images
Christmas is coming, and pubs and clubs will soon be full of Christmas get-togethers, office parties, and people celebrating the arrival of the holidays. It s also a time when some people can find themselves in a dangerous situation, either inside a venue or out on the streets, and need extra protection. Door supervisors can make a big difference to the outcome of a night out by intervening to assist a vulnerable person in trouble, and helping them to make it home safe. We want to reinforce some of the key messages from our SIA-mandated door supervisor training, and emphasise the importance of safeguarding vulnerable people in the night time economy.
How can a door supervisor can help to keep vulnerable people safe?
Recognise the risks to vulnerable people being ejected from, or refused entry to a venue:
- Being under the influence of drink or drugs
- Being assaulted
- Being alone
- Receiving unwanted attention
- Domestic violence
- Being too young to look after themselves
- Becoming the target of a sexual predator
What actions can be taken by a door supervisor to protect vulnerable people?
- Call a friend or relative to assist them
- Call a licensed taxi to take them home
- Use a safe haven
- Ask street pastors or street marshals to assist
- Call the police
Can you recognise behaviours that could indicate potential sexual predators? These often include:
- A lone male seen pestering a customer or member of staff
- A heavily intoxicated female leaving with a male
- A regular attendee frequently leaving with different intoxicated females
- Finding a date-rape type drug on a person during a search
- The Security Industry Authority is the organisation responsible for regulating the private security industry in the United Kingdom, reporting to the Home Secretary under the terms of the Private Security Industry Act 2001.
The SIA’s main duties are: the compulsory licensing of individuals undertaking designated activities; and managing the voluntary Approved Contractor Scheme.
- For further information about the Security Industry Authority or to sign up for email updates visit www.sia.homeoffice.gov.uk.
Interested to hear from the experienced CP operators or Forum members here. As the title says has anyone heard of HZL as a CP training provider based in the U.K.? They have a big contract with a government department doing CP training.
They then say you need refreshers every 6 months or so which the department obviously have to pay for, which is obviously not required by the SIA. Heard mixed reviews about the instructors they have. I’m just doing some fishing here, are they Well known on the circuit or Walts?
Anyone heard of HZL?