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Carbonite announced a definitive agreement to be acquired by OpenText for $23.00 per share in cash. The transaction values Carbonite at approximately $1.42 billion and represents a 78% premium to its unaffected stock price on September 5, 2019. Carbonite also announced its third-quarter 2019 financial results.
Carbonite, Inc. announced an updated executive leadership team, appointing John Post as Chief Operating Officer, Chad Bacher as Chief Product Officer, Hal Lonas as Chief Technology Officer, and Scott Semel as Interim General Counsel. The new team joins existing CFO Anthony Folger and CRO Craig Stilwell and will report to CEO Steve Munford. The appointments support the company’s integration of Webroot and its vision of a combined data protection and cybersecurity solution for SMBs and mid‑market customers.
Carbonite appointed Craig Stilwell as its chief revenue officer, a newly created role. He will lead the company’s global sales and marketing organization and report to President and CEO Mohamad Ali. Stilwell brings nearly two decades of experience at Citrix, including leadership roles in sales, marketing, operations, and professional services.
Carbonite will showcase its Data Protection Platform at Dell Technologies World 2019 in Las Vegas. Attendees can visit booth 202 to learn how the platform complements Dell technologies and attend a breakout session on May 1 from 8:30 to 9:30 a.m. in Zeno 4602.
Carbonite announced that its Charitable Fund will renew investments in its original nonprofit partners and award a grant to a new organization. The funding supports opportunities for students to develop STEM skills and contribute positively to their communities.
Carbonite closed its previously announced acquisition of Webroot on March 26, 2019. The combination brings cloud-based backup and recovery together with cybersecurity to provide data protection for customers and their endpoints. The purchase price was $618.5 million in cash, subject to adjustments.
Carbonite entered into a definitive agreement to acquire cybersecurity company Webroot for approximately $618.5 million. The companies said the combination would pair backup and recovery with cloud-based cybersecurity, and that the deal was expected to be immediately accretive to earnings and cash flow.