On February 11, 2019, Carbonite Inc. (NASDAQ: CARB) announced it had entered into a definitive agreement under which it will acquire Webroot Inc. for roughly $618.5 million in cash. The company intends to fund the transaction using existing cash on hand and funds secured under a new credit facility.
The combined business will address endpoint vulnerabilities with a comprehensive approach to protect through cloud-based cybersecurity. The transaction is expected to be immediately accretive following the close of the transaction. Webroot was founded in 1997.
The private company secures endpoints and offers network protection, security awareness training and threat intelligence services. For the fiscal year 2018, Webroot’s revenue was approximately $215 million. The transaction is expected to close sometime during the first quarter of 2019. Further details can be found CARB.