Carbonite to acquire Webroot for $618.5M

BROOMFIELD — Carbonite Inc. (Nasdaq: CARB) will acquire Webroot Inc. for $618.5 million.

Carbonite, a Boston-based data protection provider has decided to acquire the Broomfield-based cybersecurity company in order to address a top vulnerability in business — the endpoint. The two will take a comprehensive approach to protection through cloud-based cybersecurity, backup and protection.

“The acquisition of Webroot dramatically accelerates our progress toward becoming the leading data protection company,” Mohamad Ali, president and CEO of Carbonite, said in a prepared statement. “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. Backup and recovery, combined with endpoint security and threat intelligence, is a differentiated solution that provides one, comprehensive data protection platform.”

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The deal is expected to close in the first quarter of 2019 and has been unanimously approved by the board of directors for both companies.

“Carbonite and Webroot have a common focus on making data protection and cybersecurity solutions accessible and easy to use, as well as a dedication to customer success, and we are thrilled to become part of their team,” Mike Potts, Webroot CEO, said in a prepared statement. “Together we can deliver tremendous value to our customers and partners.”

Webroot was founded in Boulder in 1997 and moved its headquarters to Broomfield in 2011.