Carbonite, a cloud-based data backup provider, will pay $618.5 million in a deal for Webroot.
Broomfield, CO-based Webroot provides endpoints security and network protection, along with training and threat intelligence services. Carbonite said it plans to fund the transaction with existing cash on hand and with funds secured under a new credit facility.
“The acquisition of Webroot dramatically accelerates our progress toward becoming the leading data protection company,” said Mohamad Ali, president and chief executive of Carbonite. “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.”
“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,” said Mike Potts, Webroot chief executive.
Key aspects of the deal include:
• Combining Carbonite’s cloud-based data protection solutions and Webroot’s cloud-based machine learning technology will create a next-generation security platform to serve growing customer needs.
• A common set of customers will benefit from an easy-to-use, cloud-based, integrated offering, which includes a unique ransomware prevention and recovery solution.
• Webroot and Carbonite share a go-to-market focus and a complementary ecosystem of channel partners. Webroot’s leading MSP partners and RMM relationships provide Carbonite with a new channel for increased scale and market expansion.
The deal should close in the first quarter.