Barracuda Networks Kills Copy and CudaDrive

Barracuda Networks offers cloud-connected backup and protection solutions for its customers to address security threats, improve network performance and protect and store their data. In recent years the company has come upon tough times and the stock that was once over $46 a share is now trading below $12. The market capitalization of the company’s cloud-connected security and storage solutions is $561m.

“We are announcing today that the Copy and CudaDrive services will be discontinued on May 1, 2016. Copy and CudaDrive have provided easy-to-use cloud file services and sharing functionality to millions of users the past 4+ years. However, as our business focus has shifted, we had to make the difficult decision to discontinue the Copy and CudaDrive services and allocate those resources elsewhere. For more information on this decision, please view the blog post from Rod Mathews, our GM of Storage.”

The blog post did not elaborate on why the decision was made to discontinue its Copy and CudaDrive services. “We are constantly evaluating our product portfolio in the context of our overall strategic goals. With that in mind, we have begun a process to focus our resources on our most strategic initiatives and to drive more innovation and faster growth within those products,” he wrote.

Users of Copy and CudaDrive have three months to migrate their data to another solution. The good news is that Barracuda has partnered with Microsoft and Mover to make moving your data from Copy to Microsoft OneDrive simple. They even have a step by step guide that walks you through the process of moving your data to a local hard drive or another cloud storage solution.

If you are on a paid subscription for either Copy or CudaDrive you’ll be getting an e-mail about what will happen with your account shortly. Barracuda Networks is working with Morgan Stanley to look for potential buyers, Bloomberg reported.