Cybersecurity platform Barracuda Networks acquires Sonian

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

Cybersecurity platform Barracuda Networks has acquired cloud archiving solution Sonian, for an undisclosed amount.

US-based Barracuda is a cloud enabled solution that helps businesses to protect their networks, applications and data. The solution is used by over 150,000 organisations around the world, in sectors such as financial services, healthcare, retail, government and education.

This acquisition will allow Barracuda to deepen its cloud archiving, email security and management capabilities. Barracuda will also be able to expand its reach with the addition of key OEM partners.

Barracuda CEO and president BJ Jenkins said, “The Sonian platform will enable us to continue to drive differentiation and leadership as customers move to Office 365. Further, we believe there is an opportunity to integrate Sonian’s analytics and AI with our data protection portfolio, which combined with our leading security solutions, provides a more complete solution to the market.”

There have been a lot of high-value investments into the cybersecurity sector over the past month. Last week DigiCert acquired Symantec Corp’s website security solution in a deal that was worth around $950m. Other recent big deals in the sector include Skybox Security nabbing a $150m round led by CVC Capital Partners and Duo Security bagging a $70m Series D round led by Meritech Capital Parnters and Lead Edge Capital.

The cybersecurity sub-sector of the infrastructure and enterprise software sector is dominated by the North American market. Almost three quarters of last year’s companies focused on the space that received capital funding were based in North America.

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