Carbonite, Inc. Gets Nudge From j2 Global Inc. On Earlier Bid

Carbonite, Inc.

shares were largely unmoved Thursday by a nudge from suitor J2 Global Inc.

concerning its earlier, $15 unsolicited bid. J2, which currently owns about 9.5 percent stake in Carbonite, made the offer on Dec. 2 and on Wednesday, its Chairman RIchard S. Ressler again urged Carbonite to start negotiations. Carbonite, which has said it will consider the J2 offer, named Mohamad Ali as chief executive one day following J2's initial offer and Ressler said Wednesday that "we trust that Mr. Ali's hiring will not slow down any process." J2 said it was surprised by the timing as well as the cost of Ali's hiring, which J2 estimated at $7.5 million. But Ressler said Ali is "particularly well-suited to oversee a sale to us" or a wider bidding process "given his strong background in strategy and deal-making." Ali was most recently Chief Strategy Officer for Hewlett-Packard Co.

. But Ressler added Wednesday that "the time to deliver value to J2 and our fellow Carbonite stockholders is past due." Discovery Group, which owns a 7.8 percent stake in Carbonite, on Dec. 4 urged Cabonite to immediately hire a financial advisor and review alternatives. Discovery called the J2 offer "a reasonable price to begin negotiations." Carbonite changed hands recently at $14.09, nearly unchanged. Its shares are up about 25 percent since J2's offer of Dec. 3.