Exit: Barracuda Networks CEO BJ Jenkins Jumps to Palo Alto Networks
To succeed Jenkins, Barracuda has named Hatem Naguib to the CEO post, the company has confirmed. Also, Jenkins will remain on Barracuda’s Board.
During his time as CEO of Barracuda Networks, Jenkins successfully shifted the company’s channel partner strategy towards MSPs and MSSPs. The journey included private equity firm Thoma Bravo acquiring Barracuda Networks in 2017.
Barracuda, in turn, has acquired multiple MSP-focused software companies that offer cloud-based IT automation, management, security and data protection solutions designed for small business customers.
Barracuda Networks: Noteworthy Acquisitions
Key Barracuda Networks purchases before and during Thoma Bravo’s ownership have included:
- July 2021: Skout Cybersecurity for an MSP-friendly security operations center.
- November 2020: Fyde for Zero Trust Network Access (ZTNA) technology.
- August 2019: InfiSecure Technologies for bot detection & mitigation capabilities.
- February 2019: Managed Workplace for RMM (remote monitoring and management) software.
- January 2018: Cybersecurity education software provider PhishLine.
- March 2016: Sookasa for cloud access security brokerage capabilities.
The landmark deal for MSP partners involved Barracuda Networks acquiring Intronis in 2015. At first glance, the $65 million deal involved a growing provider of MSP-focused backup and disaster recovery (BDR) software. But the bigger strategy involved boardroom-level meetings at Barracuda — during which Jenkins and executive leadership hatched a plan to shift Barracuda’s entire channel strategy toward MSP consumption and recurring revenue sales models.
Barracuda Networks: Current MSP Executive Leader
Although Jenkins now exits Barracuda, the company’s MSP-focused partner program remains in good hands. New CEO Hatem Naguib has been on the Barracuda executive team amid the company’s MSP embrace. Also, Barracuda Networks GM Brian Babineau has led the company’s MSP solutions strategy since 2016.