Carbonite

History

2019

OpenText purchased Carbonite for $1.42 billion

On November 11, 2019 OpenText announced acquisition of Carbonite for $1.42 billion. In terms of one stock of the sold company the cost of the transaction is $23 that is 25% more than a quotation rate to closing of the exchange on November 8 and for 78% exceeds the cost of securities on September 5 (on the eve of emergence of the first rumors about sale of the cybersecurity developer of solutions).

It is going to close the transaction within 90 days after its declaration. OpenText intends to pay completely purchase by means of own money, without attracting the actions to the transaction. JP Morgan Chase & Co. acted as the financial advisor of Carbonite within this transaction.

OpenText announced acquisition of Carbonite for $1.42 billion

As notes Bloomberg, without OpenText debts the cost of the transaction is $800 million — so many money will be paid by the company.

This acquisition will even more strengthen at OpenText of a position of the leader in the market of cloud platforms, will ensure complete safety and protection of endpoints and also will open a new way for customer relation — the CEO of Open Text Mark Barrenechea said.

According to the director to investments into Purpose Investments of Greg Taylor, both OpenText, and Carbonite increased business due to acquisitions. The companies needed to remain on a type therefore they also decided to integrate, the expert considers.

There is nothing worse than when the growing company ceases to grow — Taylor in a conversation with BNN Bloomberg reported.

Since the beginning of 2019 on November 11 of the stock Carbonite rose in price for 27%, despite sharp falling in July when the company worsened the forecast for revenue and announced resignation of the CEO.

According to the Bloomberg agency, the OpenText company considers the possibility of merger of Micro Focus International Plc and for conducts negotiations with the companies which can act as consultants in such transaction.^[1]

Purchase of Webroot Software for $618.5 million

On February 7, 2019 the developer of cloud services for data backup of Carbonite announced purchase of Webroot Software for $618.5 million Read more here.