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OpenText Corp. to buy cloud-focused Carbonite Inc. for $1.42B

12 Novembre, 2019, 06:11 | Auteur: Auguste Feret
  • OpenText a Canadian business information management software company is buying cloud security firm Carbonite

The acquisition of Carbonite is expected to extend OpenText's leadership in the enterprise information management (EIM) market by complementing OpenText's security offerings in data loss prevention, digital forensics, end-point detection and response with the addition of Carbonite's data protection and end-point security solutions.

Carbonite has more than 300,000 SMB customers, 14,000 MSPs and 7 million professional users.

Speaking to investment analysts, Barrenechea said it will likely take around 18 months to fully integrate the company into OpenText.

OpenText is a multibillion-dollar organisation which in recent years has acquired the customer communications management division from HP Inc and Dell EMC's enterprise content division.

OpenText lately reported initially quarter net profits of $74.four million, or 27 cents a share, on revenue of $696.9 million.

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"With an added SMB partner channel, it opens up the potential for OpenText to build a meaningful SMB revenue stream".

OpenText's previous cloud acquisitions include EasyLink, GXS, ANX, Covisint, Recommind, Hightail, Catalyst and Liaison.

"The Board strongly believes that a transaction with OpenText delivers compelling, immediate and substantial cash value to shareholders". Finally, JMP Securities reduced their target price on shares of Carbonite to $28.00 and set an outperform rating for the company in a research note on Friday, July 26th.

"The worst thing you could have is a growth company that stops growing". "Not only do organizations want to incorporate their purchased technology from vendors to enable business process, but they also want the process to be handled securely and with integrity", Tran said. The institutional investor owned 10,272 shares of the technology company's stock after buying an additional 763 shares during the quarter. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.49.

"For those who may question the ability to de-lever, we'd point out that OpenText has one of the most disciplined de-levering track records among the acquisition growth names in our coverage", Li wrote. 1,224,200 shares of the company traded hands, compared to its average volume of 625,777.

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