Deals
Barracuda Said to Work With Morgan Stanley to Seek Sale
- No deal is imminent and a transaction may not take place
- Barracuda fell 35 percent on Jan. 8 after revealing earnings
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Barracuda Networks Inc., which provides cloud-computing and data-storage services, is working with Morgan Stanley to seek potential buyers, according to people familiar with the matter, after losing more than two thirds of its value amid disappointing earnings.
The investment bank has been asked to gauge interest in Barracuda, according to the people, who asked not to be identified because the information isn’t public. Barracuda rose 6.8 percent to $11.30 at 14:49 p.m. in New York, valuing the company at about $600 million.