Monday 11 February 2019

11 February 2019 - Boston, US-based data protection provider Carbonite, Inc. (NASDAQ: CARB) has entered into a definitive agreement to acquire Colorado, US-based cybersecurity company Webroot Inc. for approximately USD 618.5m in cash, the company said.
Carbonite will fund the transaction with existing cash on hand and funds secured under a new credit facility. The transaction is expected to be immediately accretive on an earnings and cash flow basis, following the close of the transaction.
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.
Carbonite said the acquisition of Webroot dramatically accelerates its progress toward becoming the leading data protection company.
Carbonite provides a robust Data Protection Platform for businesses, including backup, disaster recovery, high availability and workload migration technology. The Carbonite Data Protection Platform supports global businesses with secure cloud infrastructure.
Webroot is a private company that secures endpoints and provides network protection, security awareness training and threat intelligence services. Webroot's fiscal year 2018 revenue was approximately USD 215m.
RBC Capital Markets, LLC is serving as financial advisor to Carbonite, and Barclays is serving as financial advisor to Carbonite. Skadden, Arps, Slate, Meagher and Flom LLP is serving as Carbonite's legal counsel.
Barclays, Citizens Banks, and RBC Capital Markets, LLC have provided committed financing in support of the transaction and Simpson Thatcher and Bartlett LLP is serving as financing counsel. William Blair and Company, L.L.C. is serving as exclusive financial advisor to Webroot and Goodwin Procter LLP and Holland and Hart LLP are serving as legal counsel.