Carbonite buys Webroot for approximately $618.5 million to provide cloud-based data protection solutions
Carbonite Inc, a cloud-based data protection provider, and Webroot Inc, a cybersecurity company has announced that they have entered into a final arrangement under which Carbonite will acquire Webroot for approximately $618.5 million in cash. Through the acquisition of Webroot, Carbonite will be able to further expand and address the endpoint business through cloud-based cybersecurity, paired with cloud-based backup and recovery. Carbonite believes that by uniting its cloud-based data protection solutions and Webroot’s cloud-based machine learning technology will create a next-generation security platform to serve growing customer desires.
Creating data protection and cybersecurity solutions for customers
Mohamad Ali, President and Chief Executive Officer of Carbonite said, “The acquisition of Webroot dramatically accelerates our progress towards becoming the leading data protection company”. Besides that, he added “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.”
Mike Potts, Webroot CEO added “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 their team. Together we can deliver tremendous value to our customers and partners.”
Convincing tactical plan and monetary benefits form the collaboration
New security platform for customers
Merging of Carbonite’s cloud-based data protection solutions and Webroot’s cloud-based machine learning technology will make a new security platform to serve growing customer requirements.
Cloud-based integrated system
A collective set of customers will take advantage from cloud-based integrated system. It also includes a unique ransomware prevention and recovery solution.
Steady ways to market and its evolution
Webroot and Carbonite share goals about how to reach market penetration, revenue, and complementary ecosystem of channel partners. Webroot’s ruling MSP partners and RMM relationships deliver Carbonite with a new channel for their increased scale and market growth. 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.