Technology security and networking company Barracuda Networks has entered into an agreement to be acquired by private equity investment firm Thoma Bravo, in an all-cash transaction valued at $1.6 billion.

Upon the close of the transaction, Barracuda will operate as a privately-held company with a continued focus on email security and management, network and application security, and data protection solutions that can be deployed in cloud and hybrid environments, said the companies in a statement.

The transaction is expected to close before Barracuda’s fiscal year end of Feb. 28, 2018, and is subject to approval by Barracuda’s shareholders and regulatory authorities, as well as customary closing conditions.

Morgan Stanley is serving as financial advisor to Barracuda, with Wilson Sonsini Goodrich & Rosati, serving as  legal advisors. Financing for the transaction is being provided by Goldman Sachs, Credit Suisse, and UBS Investment Bank. Goldman Sachs, Credit Suisse, and UBS Investment Bank are also serving as financial advisors to Thoma Bravo, with Kirkland & Ellis is serving as its legal counsel.

[Image courtesy: Barracuda Networks]