Carbonite Nearing Company Sale?
Carbonite, parent of Webroot, has been considering a potential company sale to private equity firms and other suitors since at least September 2019. Interim CEO Steve Munford has been running the company since Mohamad Ali stepped down in July 2019 to join a media company.
Several Webroot veterans have been promoted into executive roles at Carbonite, which is expected to announce a newly combined partner program in 2020.
Carbonite and Webroot: The Background
Carbonite acquired Webroot in March 2019. The overall company’s data protection, backup and disaster recovery (BDR) offerings generated less-than-expected revenues in mid-2019. The other side of the house — involving cybersecurity software — has been a strong performer, particularly in the MSP-centric SMB market.
Carbonite’s overall market capitalization was $586.6 million as of October 29, according to Yahoo Finance. That’s less than the $618.5 million that Carbonite paid just for Webroot less than a year ago.
Carbonite Earnings Call Date
Carbonite is scheduled to announce third-quarter financial results on November 12, 2019. We’ll be watching to see if a potential M&A deal surfaces ahead of that time.
Several major private equity firms — particularly Thoma Bravo, Vista Equity and Summit Partners — have been quite active in the MSP-centric technology market, though we don’t know if they’re taking a look at Carbonite.
ChannelE2E has not independently confirmed the DealReporter’s report.