Barracuda Networks to acquire data protection vendor Intronis

Barracuda networks
Barracuda Networks today announced its deal to acquire Intronis, a provider of data protection solutions to managed service providers (MSPs) and IT services to small and medium-sized businesses.

Following the acquisition of the privately-held Intronics, Barracuda aims to expand its channel reach with the addition of nearly 2,000 MSPs.

“The Intronis team has built a strong reputation for delivering a platform that was designed to meet the evolving needs of MSPs,” said BJ Jenkins, CEO and president of Barracuda.

CompTIA’s 4th Annual Managed Services Trends Survey said customers are looking to MSPs to procure, deploy, and manage their IT initiatives. 72 percent of respondents use an MSP for backup/disaster recovery initiatives, while 68 percent rely on their MSP for their security.

Meanwhile, Barracuda Networks said its revenue for the second quarter of fiscal 2016 increased 14 percent to $78.4 million. The company posted net loss of $2.2 million.

Barracuda Networks said its appliance revenue grew to $22.3 million from $20.7 million, while recurring subscription revenue grew to $56.1 million from $48.0 million. The company has more than 261,000 active subscribers.

Arya MM
[email protected]