The growth of cloud-based applications has boosted innovation but has also created new security challenges.
To stay safe on the cloud, protection is needed, and cyber security firm Carbonite has made its name by providing a cloud-based backup service that can restore data after network disruption.
As the cyber security market continues to grow, Boston-based Carbonite is expanding, and has now closed the $618.5 (£473.3) million purchase of Endpoint threat intelligence provider Webroot, which has developed a range of security tools to help protect small and medium enterprises.
These tools will now join Carbonite’s range of security solutions, helping the company to evolve from a consumer-oriented provider of data protection services, to a comprehensive provider of both data protection and security solutions for small-to-medium enterprises, which represent the majority of Webroot’s customer base.
“Webroot and Carbonite share a common vision to empower small and mid-sized businesses with next generation solutions purpose-built for their unique needs,” said John Post, Chief Financial Officer at Webroot. “I’m confident we will build on the momentum of Carbonite and Webroot’s cloud-based approach to protecting endpoint data as we aim to deliver strong results for customers and partners.”
Since it was founded in 2005, Carbonite has made a total of eight acquisitions, expanding its capabilities by taking on new products and expertise. As its biggest deal ever, the acquisition of Webroot represents a bold move, but one that is designed to capitalise on a growing market.
As software development accelerates, new vulnerabilities are continually discovered – creating an unceasing demand for cyber-security solutions, and a hot market for mergers and acquisitions.
Valuations of companies in this sector continue to rise, and over the past year several significant deals have taken place – from networking giant Cisco’s $2.35 billion purchase of zero-trust security provider Duo, to Symantec’s $200 million purchase of Cloud-focused security firm Luminate.
About Acuity Advisors
We know technology – that’s why we’re the industry’s trusted M&A advisor. Our partners are senior players in tech and M&A: skilled at getting to the heart of a technology business, understanding what will attract buyers, and building long-lasting relationships. We have an unrivalled understanding of the industry’s complexities and personalities – our track record and client feedback are compelling evidence of that. We’re an international firm – most of our deals are cross-border, from offices in London, Munich, Shanghai and Silicon Valley – but we’re grounded in our approach. We move quickly when it’s needed, and we’re around for the long haul when patience is a virtue. We’ve maintained a very high success rate across hundreds of deals while keeping our focus on doing what’s right for our clients. From first meeting to successful exit, we earn the trust that clients and investors put in us.
© 2019 Acuity Advisors Limited
A conversation is never wasted. We’re confident that we can give you all the help you need, but we’ll tell you if we think there’s a better option for you.Get in Touch