OPEN TEXT CORP acquires Carbonite, Inc.

OPEN TEXT CORP acquired Carbonite, Inc. for $1.4 billion, a transaction completed in December 2019, structured as all cash. The deal was a Merger.

Carbonite, Inc. operates in Data Protection & Endpoint Security (SMB), is based in Boston, Massachusetts, United States. Carbonite was a provider of cloud-based subscription data protection, backup, disaster recovery and end-point security to small and medium-sized businesses and consumers. The acquisition (which itself included Webroot) opened a new SMB/prosumer route to market. Total consideration was $1.4 billion in cash.

Cloud platforms and secured, smart end-points are essential Information Management technologies as businesses transform into Industry 4.0. This acquisition will further strengthen OpenText as a leader in cloud platforms, complete end-point security and protection.

Marquee SMB/prosumer channel; cloud backup and endpoint security at scale (including the Webroot business Carbonite had acquired in March 2019). Expected to increase annual recurring revenues, deliver strong cloud growth, and expand cloud margins and adjusted EBITDA. Open Text SMB / Carbonite + Webroot

This acquisition 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.Mark J. Barrenechea, CEO & CTO, OpenText

We are excited by the opportunity to bring forth exceptional leadership in operational execution and integration capabilities to Carbonite.Madhu Ranganathan, EVP & CFO, OpenText

Advisory firms were not disclosed for this transaction.

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