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Carbonite, A Data Security Firm, Bought By OpenText For $1.42 Billion

Carbonite has settled on to a $1.42-billion acquisition by an enterprise information management giant, OpenText, bringing all the assumptions regarding the anticipated purchase to an end. The agreement indicates a 78% premium on the share value of Carbonite on Sept 5, when it was initially speculated the firm was readying to purchase the backup and data recovery firm. Chairman of Carbonite’s board, Steve Munford, said that it “strongly considers” the agreement will return “considerable” cash value to stakeholders. It concludes Carbonite’s eventful couple of years as the firm has shifted away from a conventional data backup business to a more upbeat, defensive security firm.

Carbonite, in February, purchased Webroot, an endpoint security firm, in an all-cash transaction for $618.5 Million, as the firm pushed to defend against budding risks such as ransomware. Before this, a cloud backup service Mozy was purchased by Carbonite bought for $145 Million. At the acquisition time by OpenText, Carbonite stated the backup firm had losses of $14 Million on earnings of $125.6 Million, a rise by 62% year-over-year. The average revenues expected by Wall Street were $131.5 Million.

On the other end, OpenText has recently declared the introduction of OpenText™ Content Security for EnCase by Reveille. Built with SolEx (Solution Extension) provider Reveille Software, a supplier for active insight solutions for EIM and ECM content, early recognition and alertness of content corruption is provided by OpenText Content Security for EnCase by Reveille. This new solution incessantly supervises for doubtful behaviors and offers early warning of a likely violation or other severe security problems.

Reveille Software CEO, Bob Estes, said, “As a SolEx associate, we’re bigheaded to function on enterprise-level content security with OpenText. The deep visibility of OpenText Content Security for EnCase by Reveille into the user actions within the enterprise content management systems and application layer offers InfoSec teams with a broad view so they can observe, recognize, and guard their content applications and endpoints.”

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