While OpenText will get Carbonite’s goodwill and revenue stream from its online backup services, its main interests may be in its security services and intellectual property. Surprisingly, there was no mention of Carbonite’s online backup service as being part of the reason for the acquisition. Joining with OpenText is an exciting next step for Carbonite. We have grown through both organic and inorganic opportunities over the years, enhancing our routes to market, diversifying our customer base, and assembling a talented workforce, while adding meaningful scale. Steve Munford, Interim Chief Executive Officer and President/Executive Chairman of the Board of Carbonite stated:Ĭarbonite has expanded its solutions to become a leader in cyber resiliency.
Carbonite is now being acquired by another publicly-traded company, OpenText ( $OTEX), for $1.42 billion. Backblaze and iDrive operate as private companies, while Carbonite has been publicly traded since 2011. There are now three top-tier cloud backup services, Carbonite, Backblaze, and iDrive. Consumers ultimately preferred Backblaze and Carbonite, resulting in Mozy being acquired by Carbonite. Shortly after Mozy launched, Carbonite and Backblaze entered the space and presented significant competition for Mozy.
The online backup space was made popular by Mozy, which was founded in 2005. Jon Henshaw | | 10:17pm CST | Productivity
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