Market Overview

Carbonite To Be Acquired By OpenText For $1.42B

Carbonite To Be Acquired By OpenText For $1.42B

Carbonite (NASDAQ: CARB) shares are trading sharply higher after the company announced it would be acquired by OpenText (NASDAQ: OTEX) for $23 per share in cash, the total purchase price is $1.42 billion.

Carbonite is a provider of cloud-based subscription data protection, backup, disaster recovery and end-point security to small and medium-sized businesses and consumers.

"Cloud platforms and secured, smart end-points are essential information management technologies as businesses transform into Industry 4.0," OpenText CEO Mark Barrenechea said in a statement. "This acquisition will further strengthen OpenText as a leader in cloud platforms, complete end-point security and protection, and will open a new route to connect with customers, through Carbonite's marquee SMB/prosumer channel and products."

Carbonite shares were trading up 24.73% at $22.95 in Monday’s pre-market session. The stock has a 52-week high of $30.41 and a 52-week low of $11.86.

Related Links:

Google Will Buy Fitbit For $2.1B

Roku To Purchase Dataxu For $150M In Cash And Roku Shares

Posted-In: M&A News Best of Benzinga


Related Articles (OTEX + CARB)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Monday's Market Minute: Big Week, Slow Start

Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week