Carbonite, a cloud-based data protection provider, and Webroot, a cybersecurity company, have entered into a definitive agreement under which Carbonite will acquire Webroot for approximately $618.5 million in cash. Carbonite will fund the transaction with existing cash on hand and funds secured under a new credit facility. The combined business will address a top vulnerability of businesses—the endpoint—through cloud-based cybersecurity, paired with cloud-based backup and recovery.
Founded in 1997, Webroot is a private company that secures endpoints and provides network protection, security awareness training and threat intelligence services. With its best-in-class technology, experienced team, and extensive go-to-market capabilities, including a network of managed service providers and remote monitoring and management relationships, Webroot's fiscal year 2018 revenue was approximately $215 million.
“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,” said Mohamad Ali, president and CEO of Carbonite. “Backup and recovery, combined with endpoint security and threat intelligence, is a differentiated solution that provides one, comprehensive data protection platform."
For further information on the transaction,visit http://CarboniteWebroot.transactionannouncement.com.