Barracuda Networks is sold to Thoma Bravo for $1.6 billion

Barracuda said the arrangement will quicken development of its security stage and amplify investor esteem.

Capacity, reinforcement and security machine merchant Barracuda Networks is pitching itself to a private value firm for $1.6 billion. 

The purchaser, Thoma Bravo, is no more interesting to the tech advertise. The firm has obtained a sizable arrangement of innovation brands, including Qlik, Flexera, Compuware, Riverbed and Blue Coat. 

Barracuda, which has battled to some degree in late quarters, said the arrangement will quicken development of its security stage and amplify investor esteem. 

"Thoma Bravo has a great history of putting resources into developing security organizations, and this exchange addresses the esteem and quality of Barracuda's security stage, which enables clients to ensure and deal with their systems, applications, and information," said Barracuda CEO BJ Jenkins. "I expect that our workers, clients, and accomplices will profit by this organization." 

Seth Boro, an overseeing accomplice at Thoma Bravo, included that Barracuda's cybersecurity portfolio made the organization an appealing procurement target. 

Under the terms of the buyout, Barracuda investors will get $27.55 per share in real money. That whole compares to a 22.5 percent premium over Barracuda's 10 day normal stock cost. 

Offers of Barracuda rose 16 percent on Monday.