One of the earliest players in the cloud data-backup business, Carbonite, says it is acquiring Webroot, an internet security company whose reputation stretches back to the 1990s.
Boston-based Carbonite is putting up about $618.5 million in cash to buy Webroot. The goal is to improve Carbonite’s endpoint security and threat intelligence as it continues to grow its cloud-based backup and recovery services, according to a news release by the two companies. It’s the latest in a string of acquisitions for Carbonite.
“With threats like ransomware evolving daily, our customers and partners are increasingly seeking a more comprehensive solution that is both powerful and easy to use,” said Mohamad Ali, Carbonite’s president and CEO. The transaction is expected to close by the end of the first quarter this year.
John Post, Webroot’s current chief financial officer, “will be taking general management responsibilities for the Webroot business upon the close of the transaction,” Carbonite said.
A Webroot spokesperson told CyberScoop that the company’s CEO, Mike Potts, will “be with the company through the close of the transaction.
Carbonite and Webroot each had double-digit growth percentages in 2018, according to a document Carbonite provided to investors.
Carbonite, founded in 2005, built its business on offering cloud backups for households and small businesses.
Colorado-based Webroot’s history stretches back to the first web boom, when it was known for its “Window Washer” product, which cleaned up a user’s browser data. Later it branched into enterprisewide products, mobile security and more. CTO Hal Lonas spoke with CyberScoop in 2017 about how the company was using machine learning to improve its offerings.
Carbonite has acquired several other companies the last half-decade, including email backup service MailStore, mobile data backup and recovery company Datacastle and cloud backup competitor Mozy.