{"id":3655,"date":"2019-11-12T09:52:51","date_gmt":"2019-11-12T14:52:51","guid":{"rendered":"https:\/\/solutionsreview.com\/backup-disaster-recovery\/?p=3655"},"modified":"2019-11-13T09:18:41","modified_gmt":"2019-11-13T14:18:41","slug":"carbonite-to-be-acquired-by-opentext-for-1-42-billion","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/backup-disaster-recovery\/carbonite-to-be-acquired-by-opentext-for-1-42-billion\/","title":{"rendered":"Carbonite To Be Acquired by OpenText for $1.42 Billion"},"content":{"rendered":"

\"CarboniteData protection and cybersecurity solution provider, Carbonite,<\/a> has announced<\/a> it has entered a definitive agreement to be acquired by OpenText.<\/a> The Enterprise Information Management software and solution provider will acquire Carbonite for $23.00 per share in cash. The transaction values Carbonite at an enterprise value of approximately $1.42 billion and represents a 78 percent premium to Carbonite\u2019s unaffected closing stock price on September 5, 2019, the final training day before a media report was published speculating about a possible sale process.<\/span><\/p>\n

Our <\/span><\/span>Buyer\u2019s Guide for Backup and Disaster Recovery<\/span><\/i><\/a><\/span> helps you evaluate the best solution for your use case and features profiles of the leading providers, as well as a category overview of the marketplace.<\/span><\/div><\/span><\/p>\n

In a press statement, Steve Munford, Interim Chief Executive Officer and President\/Executive Chairman of the Board of Carbonite said, \u201cfollowing expressions of interest from multiple parties, the Carbonite Board conducted a thorough and comprehensive process, which included contact with a number of strategic and financial parties, to identify the best way to maximize shareholder value. The Board strongly believes that a transaction with OpenText delivers compelling, immediate, and substantial cash value to shareholders.\u201d<\/span><\/p>\n

Munford continued, stating, \u201cCarbonite has expanded its solutions to become a leader in cyber resiliency. We have grown through both organic and inorganic opportunities over the years, enhancing our routes to market, diversifying our customer base, and assembling a talented workforce, while adding meaningful scale. Joining with OpenText is an exciting next step for Carbonite.\u201d<\/span><\/p>\n

OpenText is a leader in Enterprise Information Management (EIM) both on-prem and for cloud services, providing the only complete solution for EIM with a comprehensive view of all the information within a business. OpenText operates in 40 countries, delivering a tested platform for growth and new sales opportunities.<\/span><\/p>\n

This transaction is subject to customary closing conditions, including the tender of a majority of the outstanding shares of Carbonite common stock and regulatory approvals. Additionally, J.P. Morgan Securities LLC acted as financial advisor to Carbonite, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor.<\/span><\/p>\n

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\"Download<\/a><\/p>\n<\/div>\n\t\t<\/div><\/div><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Data protection and cybersecurity solution provider, Carbonite, has announced it has entered a definitive agreement to be acquired by OpenText. The Enterprise Information Management software and solution provider will acquire Carbonite for $23.00 per share in cash. The transaction values Carbonite at an enterprise value of approximately $1.42 billion and represents a 78 percent premium […]<\/p>\n","protected":false},"author":43,"featured_media":3658,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[864,168,863],"acf":[],"yoast_head":"\nCarbonite To Be Acquired by OpenText for $1.42 Billion<\/title>\n<meta name=\"description\" content=\"Data protection and cybersecurity solution provider, Carbonite, has announced it has entered a definitive agreement to be acquired by OpenText.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/backup-disaster-recovery\/carbonite-to-be-acquired-by-opentext-for-1-42-billion\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta 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To read Carbonite\u2019s full press release, click here.<\/a><\/span><\/p>\n