Carbonite, Inc. and Webroot Inc. announced that they have entered into a definitive agreement under which Carbonite will acquire Webroot for approximately $618.5 million in cash. Carbonite will fund the transaction with existing cash on hand and funds secured under a new credit facility. The combined business will address a top vulnerability of businesses -the endpoint -with a comprehensive approach to protection through cloud-based cybersecurity, paired with cloud-based backup and recovery. The transaction is expected to be immediately accretive on an earnings and cash flow basis, following the close of the transaction
Mohamad Ali said that the acquisition of Webroot dramatically accelerates our progress towards becoming the leading data protection company. With threats like ransomware evolving daily, our customers and partners are increasingly seeking a more comprehensive solution that is both powerful and easy to use. Backup and recovery, combined with endpoint security and threat intelligence, is a differentiated solution that provides one, comprehensive data protection platform.
Ali said as well that the Webroot team has a passion for building technology to simplify the way customers protect their important data, and we are excited to welcome them.
Carbonite and Webroot have a common focus on making data protection and cybersecurity solutions accessible and easy to use, as well as a dedication to customer success, and we are thrilled to become part of our team ,” said Mike Potts, Webroot CEO. “Together we can deliver tremendous value to our customers and partners.”
Compelling Strategic and Financial Benefits
• Next-Generation Technology Platform:Combining Carbonite’s cloud-based data protection solutions and Webroot’s cloud-based machine learning technology will create a next-generation security platform to serve growing customer needs.
• A Comprehensive Solution, Delivering Better Results:A common set of customers will benefit from an easy-to-use, cloud-based, integrated offering, which includes a unique ransomware prevention and recovery solution.
• Consistent Routes to Market and Expansion of Addressable Market:Webroot and Carbonite share a go-to-market focus and a complementary ecosystem of channel partners. Webroot’s leading MSP partners and RMM relationships provide Carbonite with a new channel for increased scale and market expansion.
• Immediately Accretive:Based on Webroot’s current operating plan and existing customer contracts, the transaction is expected to be immediately accretive on an earnings and cash flow basis following the close of the transaction.
