KKR acquires Barracuda Networks from Thoma Bravo

KKR, a leading global investment firm, has acquired Barracuda Networks from Thoma Bravo, a leading software investment firm. Financial terms of the transaction were not disclosed.

Barracuda is a cloud-first provider of cybersecurity solutions for small and medium sized enterprises (SMEs). The company claims more than 200,000 customers worldwide.

“We’re ready to deliver on our next phase of growth with KKR and remain dedicated to investing in our team and product portfolio to provide innovative cybersecurity solutions for our customers and partners,” said Hatem Naguib, CEO of Barracuda. “We‘re grateful to Thoma Bravo for their valuable strategic and operational support over the last four years.”

“We are excited to complete this transaction and begin working with the Barracuda team to support their continued growth and delivery of next generation cloud-first cybersecurity solutions that protect SMEs from an evolving landscape of threats,” said John Park, a Partner at KKR.

“Barracuda has been a tremendous partner over the last four years and has experienced strong product, customer and revenue growth,” said Chip Virnig, a Partner at Thoma Bravo. “We have enjoyed working closely with Hatem and his team through multiple acquisitions and operational improvements, and we are confident that the company is well-positioned for continued success.”

http://www.barracuda.com

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KKR bids $12 billion for Telecom Italia Group

 TIM’s Board of Directors met to discuss a bid from Kohlberg Kravis Roberts & Co. L.P. (“KKR”) to acquire and privatize the company. The offer is for Euro 0.505 per ordinary and/or savings share, the equivalent of about US$12 billion for the group.

The offer is considered provisionary as the companies perform due diligence. A deal would require clearance by key stakeholders in the Italian government and possibly the Brazilian government, as well as by shareholders.

From TIM's recent Q3 investor presentation:

https://www.gruppotim.it/it/investitori/informazioni-regolamentate.html

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Telefónica Colombia and KKR target FTTH

Telefónica Colombia and KKR, a global investment firm, will form a joint venture company for the deployment of FTTH in Colombia.

The new company aims to cover 4.3 million Passed Property Units (PDUs), including all the relevant markets in the country over the next three years.

Under the agreement, 60% of the joint venture will be owned by KKR and 40% by Telefónica Colombia. Telefónica will contribute its current FTTH infrastructure, which already reaches 50 cities and municipalities and which -at the end of the first quarter of 2021- covered 1.2 million homes.

The deal values the new company at US$ 0.5 billion (approximately 20 times proforma OIBDA and US$ 410 Enterprise Value per PDU), Telefónica Colombia will receive a payment of US $0.2 billion and will be eligible for a performance-based consideration of up to US $0.1 billion.

Telefónica Movistar Colombia currently has more than 380,000 customers using its fiber service with symmetrical speeds of up to 500 Mbps.

 

Alfonso Gómez Palacio, CEO of Telefónica Spanish-speaking Latin America, explained that "the agreement with KKR will accelerate the deployment of fiber optic in Colombia at an unprecedented rate, in a market that has shown enormous potential in the last year. In addition, fiber will create opportunities for thousands of homes and businesses that see digitalization as an opportunity for development. This is one more step by our company to lead FTTH services in Latin America".

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KKR acquires majority stake in Hyperoptic, a broadband provider in UK

KKR, a leading global investment firm, has acquired a majority stake in Hyperoptic Ltd, a residential gigabit broadband provider in the UK, from funds managed by Newlight Partners LP (“Newlight”) and Mubadala Investment Company. Financial terms were not disclosed.

Hyperoptic was founded in 2011. Its fibre-to-the-premises (FTTP) passes 400,000 homes and businesses. It delivers the nation’s fastest broadband speeds of up to 1Gbps (1,000 megabits per second), which is over 18x faster than the UK average.

Hyperoptic will continue to be led by Chief Executive Officer Dana Tobak, CBE and Executive Chairman Boris Ivanovic.

Dana Tobak stated, “We are incredibly grateful to Newlight and Mubadala for their unwavering support and significant contributions to the success of Hyperoptic. Currently, only 8% of the UK has access to full fibre and less than half of that to symmetrical gigabit services.

Vincent Policard, Member, and Cristina Gonzalez, Director in European Infrastructure at KKR, said, “Hyperoptic has a market-leading position and superior consumer product. The business is strongly positioned to meet the growing demand for full-fibre services in the UK through further investment and national roll-out, supporting housing development and renovation. Our investment in Hyperoptic builds on KKR’s strong track record in telecommunications infrastructure in Europe, investing in and deploying next-generation digital connectivity.”

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