OpenText to acquire Carbonite for $1.42 billion
OpenText has entered into a definitive agreement to acquire Carbonite, a provider of cloud-based subscription data protection, backup, disaster recovery, and end-point security solutions for small- and medium-sized businesses and consumers.
The deal calls for OpenText to acquire outstanding all outstanding Carbonite shares for $23 per share in cash for a total purchase price of approximately $1.42 billion, inclusive of Carbonite's cash and debt. The transaction is planned to close within 90 days of this announcement.
The acquisition of Carbonite is expected to extend OpenText's leadership in the enterprise information management (EIM) market by complementing OpenText's security offerings in data loss prevention, digital forensics, end-point detection and response with the addition of Carbonite's data protection and end-point security solutions. The acquisition also adds significantly to OpenText's Cloud business and further complements OpenText's routes to market, strong enterprise customer base in the Global10K, enhanced SMB and prosumer markets.
"Cloud platforms and secured, smart end-points are essential Information Management technologies as businesses transform into Industry 4.0," said Mark J. Barrenechea, OpenText CEO & CTO. "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."
The acquisition also adds significantly to OpenText's cloud business and further complements OpenText's routes to market, enterprise customer base in the Global10K, enhanced SMB, and "prosumer" markets.
For more information, go to www.opentext.com.