Barracuda Networks, Inc. (NYSE: CUDA) today announced it has entered into a definitive agreement to acquire privately held Intronis, Inc. (Intronis), a leader in providing data protection solutions to managed service providers (MSPs), a fast-growing channel delivering IT services to small and medium-sized businesses. This acquisition is expected to greatly expand Barracuda’s channel reach with the addition of nearly 2,000 MSPs and a purpose-built platform designed to streamline how MSPs service the data protection needs of their customers. The transaction is expected to close in Barracuda’s fiscal third quarter.
“The Intronis team has built a strong reputation for delivering a platform that was designed to meet the evolving needs of MSPs. Barracuda and Intronis share a commitment to simplicity, customer experience, and the channel. We believe a larger opportunity exists to add Barracuda’s award-winning security and data protection solutions to the Intronis platform to expand its offerings. This will allow Intronis’ MSP partners to address the broader needs of their customers,” said BJ Jenkins, CEO and President of Barracuda. "Barracuda has a rich history of innovation – with our subscription services, SaaS offerings, and public cloud focus, and this transaction builds on those successes. It also allows us to expand our market reach, and to offer compelling IT solutions no matter how customers want to consume them.”
Additional highlights include:
- Purpose-Built MSP Platform – Intronis’ growth in the MSP market is driven by its Intronis ECHOplatform, which many of its MSP partners use as the foundation of their managed services business, and traditional VARs have used to accelerate their transition into becoming managed service providers. Closely integrated with the major Professional Services Automation (PSA) and Remote Monitoring and Management (RMM) providers, the Intronis ECHOplatform enables MSPs to easily deploy and manage data protection services for their end customers with comprehensive reporting, centralized account management, and consolidated billing.
- Expanded Customer Opportunity – Research from Markets and Markets2 finds that the annual growth rate of the SMB managed services market will exceed 20% over the next five years. Intronis’ technology and processes deliver an efficient way to better reach those customers, providing the ability for Barracuda to accelerate growth in this market.
- Extended Channel Reach – Intronis’ MSP experience and award-winning infrastructure expand Barracuda’s channel reach in the newer, fast-growing MSP partner segment. This includes the nearly 2,000 MSPs that partner with Intronis today, of which less than 10% overlap with existing active Barracuda partners. Further, many key elements of the managed services market are forecast to grow at double-digit rates according to Gartner3, representing significant opportunities for MSPs to support their clients’ cloud migration plans and their IT service deployment, management and security needs. Barracuda’s award-winning security and data protection products, including Barracuda’s Office 365 offerings, can be adapted over time to take advantage of the current Intronis channel, as well as enable international expansion of the current Intronis offerings.
