Waterloo-headquartered OpenText is paying US$23 per share in cash for the Nasdaq-listed company. Based in Boston, Carbonite makes data protection, backup and recovery software for consumers and small- and medium-sized firms. (The Logic)
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Waterloo-headquartered OpenText is paying US$23 per share in cash for the Nasdaq-listed company. Based in Boston, Carbonite makes data protection, backup and recovery software for consumers and small- and medium-sized firms. (The Logic)
Talking point: OpenText has historically focused on the enterprise market; CEO Mark Barrenechea has promised that its sales force will target 80 per cent of the world’s 10,000 largest companies by 2022. But last year, he identified mid-market companies as a growth opportunity. The firm will be able to sell its information management, process automation and other software to Carbonite’s 300,000 smaller customers. OpenText has announced six acquisitions over the last three years, and Carbonite is by far the largest. The deal is a consolidation of consolidators—Carbonite itself grew via acquisitions, buying cybersecurity firm Webroot in March for US$618.5 million.
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