KKR completed the purchase of cloud security specialist Barracuda Networks from software investment company Thoma Bravo, as the US investor continues to expand its portfolio of cybersecurity and fibre network assets.

Reuters previously reported the deal, announced in April, was estimated to be worth about $4 billion including debt. Barracuda Networks specialises in the provision of enterprise cybersecurity solutions and currently covers about 200,000 customers worldwide.

KKR noted the Barracuda Networks buy builds on previous cybersecurity investments including Ping Identity, Cylance, DarkTrace, ForgeRock, NetSPI and Optiv Security, among others.

John Park, KKR head of Americas technology private equity, added the investor continues to see cybersecurity “as a highly attractive sector” and is “excited to back a clear leader in the space”.

As well as security companies, KKR is keen to invest in telecoms infrastructure with a particular focus on fibre networks.

For example, Telefonica set up independent fibre infrastructure companies in Colombia and Chile in partnership with KKR, with a 40:60 split in each.

Telecom moves
Cybersecurity has become an increasingly hot topic as cyberattacks proliferate during the continued popularity of hybrid and remote working patterns.

Operators have also been taking steps to address the issue. In one example, Telefonica joined forces with Cisco to tap the growing need of large and small enterprises to support hybrid home and office working environments for employees.

Meanwhile, Verizon called on businesses to prioritise mobile and IoT device security after recording a return to growth in the number of attacks in the year to April.