Barracuda Networks hires Morgan Stanley to find potential buyers

Industry:    2016-02-02

Data storage services provider Barracuda Networks Inc (CUDA.N) is working with Morgan Stanley (MS.N) to look for potential buyers, Bloomberg reported, citing people familiar with the matter. No buyers have emerged till now and a deal may not happen at all, Bloomberg cautioned. Barracuda could not be immediately reached for comment. The company had a market capitalization of $622.4 million as of Monday’s close of $11.72. The stock has fallen nearly 70 percent in the last 12 months

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