Barracuda announces definitive agreement to acquire SKOUT Cybersecurity

Expands Barracuda portfolio with XDR platform for MSPs offering proactive real-time continuous security monitoring and response services

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Barracuda Networks, Inc.

Jul 01, 2021, 11:59 ET

CAMPBELL, Calif., July 1, 2021 /PRNewswire/ -- Barracuda Networks, Inc., a trusted partner and leading provider of cloud-enabled security solutions, today announced it has entered into a definitive agreement to acquire SKOUT Cybersecurity, a Melville, NY-based leader in cyber-as-a-service software for Managed Service Providers (MSPs) and provider of an extended detection and response (XDR) platform and service.

With this acquisition Barracuda has entered the fast-growing XDR market with a solution optimized for MSPs. SKOUT brings advanced technology and continues Barracuda's strategic M&A momentum, which includes the recent acquisition of Zero Trust Access provider Fyde. Adding to Barracuda's prior integrations with Open XDR platforms, SKOUT expands Barracuda's portfolio with a powerful XDR platform for MSPs that is backed by a 24x7 SOC.

According to Gartner: "Two of the biggest challenges for all security organizations are hiring and retaining technically savvy security operations staff, and building a security operations capability that can confidently configure and maintain a defensive posture as well as provide a rapid detection and response capacity. Mainstream organizations are often overwhelmed by the intersectionality of these two problems."¹

"MSPs must be able to protect their customers' end users, their devices, and the data they are accessing with these devices against increasingly sophisticated threats. To achieve this level of protection for their customers, and themselves, MSPs are transforming their businesses into "security centric" operations," said Brian Babineau, Senior Vice President and General Manager, Barracuda MSP. "The addition of SKOUT enables Barracuda's MSP partners to deploy security solutions across their environments, connecting their data feeds into a unified, 24x7 operation for swift analysis and response."

Acquisition highlights:

Expands Barracuda's solutions for MSPs with SKOUT, offering XDR platform for proactive real-time continuous security monitoring with response services for managed endpoints, networks, and cloud.
SKOUT's offering includes an XDR platform that connects with critical security infrastructures such as email, firewall, identity and access, and a 24x7 SOC that aids the detection of and response to cyberattacks.
Enables customers to address threats more efficiently with additional threat detection, threat analysis, and response capabilities.
Eliminates customers' expense of training and staffing for 24x7 service, instead utilizing SKOUT's security professionals to handle the SOC operation. Provides MSPs with choice and flexibility when building out their cybersecurity practice, and features a powerful combination of solutions, enablement tools, and human security expertise.
By integrating with existing security infrastructure, SKOUT offers investment protection for MSPs, making it easier to handle cyberattacks in diverse customer environments.

The acquisition is anticipated to close in July, subject to obtaining required regulatory and third-party consents, and satisfaction of other customary closing conditions.

About Barracuda

At Barracuda we strive to make the world a safer place. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers' journey. More than 200,000 organizations worldwide trust Barracuda to protect them – in ways they may not even know they are at risk – so they can focus on taking their business to the next level. For more information, visit barracuda.com.

Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries. SKOUT Cybersecurity and the SKOUT logo are registered trademarks of SKOUT Cybersecurity Holdings, Inc. and its affiliates in the US and other countries.

^1.Gartner: Innovation Insight for Extended Detection and Response, Peter Firstbrook, Craig Lawson, 8 April 2021.

Contacts
Anne Campbell
Barracuda Networks, Inc.
978-328-1642
[email protected]

SOURCE Barracuda Networks, Inc.