• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

Dossier.org

Market Intelligence

  • About
    • How to structure intent in Memorandum of Understanding (MOU)
  • Market Dossier
    • Technology Dossier
    • Events
    • Venture Capital Dossier
  • Domain Dossier
  • Sponsored Post
    • Make a Contribution
  • Contact

OpenText Buys Carbonite, Inc.

December 24, 2019 By admin Leave a Comment

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), “The Information Company,” announced today that it has completed the closing of the previously announced acquisition of Carbonite, Inc. (“Carbonite”), provider of cloud-based subscription data protection, backup, disaster recovery and endpoint security to small and medium-sized businesses and prosumers.

“I am delighted to announce today the completion of the Carbonite acquisition and warmly welcome Carbonite customers, partners, and employees to OpenText. Combined, we will be able to provide our customers the first end-point platform that offers data protection, endpoint security, intrusion detection and digital forensics – ensuring cyber resiliency and trusted innovation,” said Mark J. Barrenechea, OpenText CEO & CTO. “Carbonite brings a world-class channel organization and partners, allowing OpenText to bring EIM to all size customers including SMB to prosumers.”

Barrenechea further added, “We have confidence in our ability to integrate, innovate and grow the business. As previously highlighted, we are targeting for Carbonite to be on our operating model by the end of Fiscal 2021, or sooner. We expect strong cloud growth and cash flow expansion from the acquisition.”

Preliminary Financial Overview

OpenText expects Carbonite to contribute no material revenue or operating expenses over the holiday season between December 24th and 31st, within the current quarter (Fiscal 2020 Q2). Further financial projections from OpenText, as well as updated target models, will be provided when the company reports its second quarter Fiscal 2020 financial & business results.

Terms of the Acquisition

The tender offer for all outstanding Carbonite shares for $23.00 per share in cash is now complete, Carbonite is now a wholly-owned subsidiary of OpenText
Total purchase price of approximately $1.45 billion, inclusive of Carbonite’s cash and debt
The total purchase price is approximately 2.9x TTM (Trailing Twelve Months) Carbonite GAAP revenues (as of September 30, 2019), inclusive of annualized full-year reported Webroot GAAP revenues, a significant acquisition by Carbonite which closed in March 2019
Current Carbonite Reported Annual Recurring Revenues (ARR) of 90%
Accretive and expected to be on the OpenText operating model by end of Fiscal 2021 or sooner
Funded with OpenText’s existing cash on hand and debt revolver
Estimated OpenText net leverage ratio at the closing of approximately 2.5x, with an expectation to return to less than 2x net leverage during the next 4-6 quarters

Source:OpenText (NASDAQ: OTEX, TSX: OTEX)
opentext.com

Filed Under: News Tagged With: Carbonite, OpenText

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

VC

Latchel Closes $16.7 Million to Enhance Resident Services and Maintenance Workflow
Cloudflare Announces $1.25 Billion “Workers Launchpad” Funding Program to Help Startups Grow Their Businesses
CertifyOS Closes $14.5 Million Series A Funding Round Led by General Catalyst
Seedtag raises over €250M from Advent International
Second Front Systems Raises Oversubscribed $32 Million Series A to Scale its DevSecOps Platform
actyv.ai Raises Pre-Series A Funding to Fuel Global Expansion, Product Enhancement
BlockSec Closes Seed Plus Funding Round with $8M Raised

Technologies

Why does Apple stick to its “closed ecosystem” ?
Volvo receives record order for electric trucks in Australia
Revolutionizing the Fashion Industry: Algae-based Yarns and Dyes Take on Fast Fashion
IBM Unveils 400 Qubit-Plus Quantum Processor and Next-Generation IBM Quantum System Two
Researchers Identify Brain Markers of ADHD in Children
How can we clean space junk?
Why are transversal technologies attracting investments?

Secondary Sidebar

Analysis

Quantum Computing Set to Transform Multiple Industries, Create Up to $850 Billion in Annual Value by 2040, Latest Estimates Show
Global Report: 45% of People Have Not Felt True Happiness for More Than Two Years
EG Radius Brings Market Analytics to the Commercial Real Estate Market
China’s population growth in the decade to 2020 slumped
Turkey is already in the midst of a currency and balance of payments crisis.

Market Research

Inflation Bites: The U.S. government can buy fewer infrastructure today
Creative Storytelling in Corporate Marketing Strategy
Bridging the Digital Divide
BRIC Investment Funds Have Taken a Beating This Year
Media measurement services provide a holistic view of cross-media consumption

Footer

Recent Posts

  • Why UK faces chronic labor shortages
  • Battery Ventures Announces Sale of Physical-Security Technology Firm Qognify to Hexagon AB
  • impak Ratings acquires Exerica, a London-based fintech data extraction firm
  • Kentucky’s Wilderness Trail bourbon distillery to be sold to Italian maker of Campari
  • Container xChange Survey: 60% of Freight Forwarders and NVOCCs Struggle to Monitor Movement of Shipping Containers
  • Cloud storage company Box can surge nearly 40% on the future of work
  • Rockwell Automation Announces Intent to Acquire CUBIC
  • Vianode invests NOK 2 billion in battery materials plant in Norway
  • 69% of investors are betting the euro will slide to $0.9
  • Defense Market, July 2022

RSS Blockchaining

  • Blockchain topics to be covered at DLD 2023
  • Experience the Future of Blockchain at Cybertech 2023
  • Join Our Team as a Blockchain Developer - Revolutionize the Future
  • The Fascinating World of Cryptocurrency
  • State of Technology Overview: Blockchaining 2023

RSS S3H

  • Join Our Team at S3H.com Consulting - A One-Stop Shop for Technology Solutions
  • Cybertech 2023
  • Winner-take-all: GAFA vs BATX
  • Technology Events
  • The China smartphone market has hit a decade-long low in 2022

RSS VPNW

  • Unlock Your Creativity with a Competitive Mindset
  • Start today and make exercise a part of your daily routine
  • If hard work meant success, the donkey would own the farm
  • The Benefits of Mindfulness Meditation
  • The Rise of Plant-Based Diets

RSS OPINT

  • North Korea is working to create a nuclear warfighting capability
  • China’s proliferation of nuclear and missile-related technologies to other countries
  • The United States has been a major supporter of Ukraine’s security
  • The Impact of the Middle East on Global Geopolitics
  • The Impact of the Belt and Road Initiative on Global Geopolitics

Copyright © 2022 Dossier.org

Technologies, Market Analysis & Market Research and Exclusive Domains

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT