OpenText buys data backup firm Carbonite for $1.42B

guest · Nov 11, 2019

OpenText buys data backup firm Carbonite for $1.42B
November 11, 2019
https://techcrunch.com/2019/11/11/opentext-buys-carbonite/

Carbonite has agreed to a $1.42 billion purchase by OpenText, an enterprise information management giant, ending weeks of speculation about the anticipated buyout.

It ends a busy couple of years for Carbonite as the company has moved away from a traditional data backup business to a more proactive, defensive security company.
In February, Carbonite bought endpoint security company Webroot for $618.5 million in an all-cash deal, as the company pushed to protect against emerging threats like ransomware. Only a year earlier, Carbonite bought Mozy for $145 million, a cloud backup service.

Carbonite said at the time of its acquisition by OpenText, the backup company had losses of $14 million on revenues of $125.6 billion, an increase by 62% year-over-year.
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VentureBeat: OpenText acquires data backup and security platform Carbonite for $1.42 billion

Cloud giant
Founded in 1991, OpenText is among Canada’s biggest software companies, specializing in helping enterprises manage all their content and unstructured data in the cloud or on-premises.
The company has made a number of other notable acquisitions in the recent past, including Dell EMC’s enterprise content division, which it bought for $1.6 billion in 2017, and file-sharing service Hightail, formerly YouSendIt, which it bought for an undisclosed amount last year.

The deal has not yet been finalized, as it’s still subject to shareholder approval and the usual regulatory processes.
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OpenText buys data backup firm Carbonite for $1.42B

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