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Cloud

11/11/2019
05:30 PM
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OpenText to Buy Carbonite for $800M Cash in $1.42B Deal

The acquisition was confirmed just six months after Carbonite bought Webroot.

Canadian enterprise information management software company OpenText will buy cloud backup and recovery firm Carbonite, the companies announced today.

OpenText will buy Carbonite for "nearly $800 million in cash," reports Reuters, and the acquisition is valued at about $1.42 billion including debt. The deal is expected to close within 90 days.

The acquisition happens just nine months after Carbonite itself closed on an acquisition of endpoint security and threat intelligence company Webroot for $618.5 million.  

The acquisition of Carbonite "will further strengthen OpenText as a leader in cloud platforms, complete end-point security and protection, and will open a new route to connect with customers, through Carbonite's marquee SMB/prosumer channel and products," said Mark J. Barrenechea, CEO and CTO of OpenText, in a statement, via BizJournals

For more, see here.

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