![]() The deal is expected to deliver $20 million of cost synergies over the next three years, as well as $50 million of revenue synergies over the next five years, Carbonite said.Ĭarbonite was founded in 2005, went public in 2011, and employed 941 full-time employees as of the end of 2017, according to its most 10-K filing with the U.S. The company's threat intelligence engine is powered by machine learning from millions of endpoints, the company said. Webroot primarily serves the SMB market with fewer than 1,000 seats, according to the company. The company derives 60 percent of its revenue from consumer sales and the remaining 40 percent from sales to businesses, much of which flows through Webroot's base of more than 14,000 MSP partners. Webroot CFO John Post will take general management responsibilities for the Webroot business following the close of the transaction. “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,” Webroot CEO Mike Potts said in a statement. The combined customer base will benefit from an easy-to-use, cloud-based, integrated offering, which includes unique ransomware prevention and recovery capabilities. With the evolution of threats like ransomware, Ali said Carbonite's customers and partners are increasingly seeking a more comprehensive offering that's both powerful and easy to use. Webroot's areas of expertise include endpoint and network security, security awareness training, and threat intelligence services. Webroot was founded in 1997, delivered revenue of approximately $215 million in 2018, and employs more than 500 people, according to the company. The company also announced full-year 2018 earnings of $0.22 per share on sales of $296.4 million, up 24 percent on a year-over-year basis. "Backup and recovery, combined with endpoint security and threat intelligence, is a differentiated solution that provides one, comprehensive data protection platform," Mohamad Ali, Carbonite's president and CEO, said in a statement.Ĭarbonite's stock fell $1.65 (5.63 percent) to $27.65 in after-hours trading Thursday. At the same time, Carbonite said that Webroot's leading MSP partners and remote monitoring and management (RMM) relationships provide the company with a new channel for increased scale and market expansion. ![]() The Boston-based data protection provider said that it and Bloomfield, Colo.-based Webroot share a go-to-market focus and complementary ecosystem of channel partners. Carbonite plans to purchase Webroot for $618.5 million, creating a company that can deliver both backup and recovery as well as cloud-based cybersecurity on the endpoint. ![]()
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