OpenText (NASDAQ: OTEX) (TSX: OTEX), a Waterloo, Ontario, Canada-based enterprise information management company, is to acquire Carbonite, Inc. (NASDAQ: CARB), a Boston, MA-based provider of cloud-based subscription data protection, backup, disaster recovery and end-point security to small and medium-sized businesses and consumers.
The total purchase price is of approximately $1.42 billion, inclusive of Carbonite’s cash and debt.
With the acquisition, the cloud based sata protection and end-point security solutions of Carbonite will expand OpenText’s EIM offering in data loss prevention, digital forensics, end-point detection and response.
Commenting on the transaction, Mark J. Barrenechea, OpenText CEO & CTO, said: “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. We are very excited about the opportunities that Carbonite will bring, and I look forward to welcoming our new customers, partners and employees to OpenText.”
Founded by CEO and David Friend, Jeff Flowers and led by CEO Steve Munford, Carbonite provides a Data Protection Platform for businesses, including backup, disaster recovery, high availability and workload migration technology.
The platform supports any size business, in locations around the world with secure and scalable global cloud infrastructure.
FinSMEs
12/11/2019