Perhaps best known for their solutions in the niche of cloud-based backup and data security, the team with Carbonite has recently announced the acquisition of EVault. Though the deal cost the Boston-based Carbonite a total of $14 million, this development is expected to significantly strengthen Carbonite's presence in the industry. For starters, the move has already added 200 new staff members, all ex-EVault employees, to Carbonite's full-time roster.
As EVault primarily maintained focus on small and medium-sized businesses, the latest acquisition will bolster Carbonite's ability to provide comprehensive data backup and security to their entire customer base. The move will also provide Carbonite with enhanced recovery capabilities as well as greater resiliency and failover implementation across the board.
Carbonite's president and CEO, Mohamad Ali, spoke about the future of Carbonite and how their new acquisition of EVault will help to diversify and enhance his company's service offerings by saying: "With this acquisition, Carbonite is taking a big step forward in meeting the data protection and business continuity needs of the entire SMB market from home offices to medium-sized businesses. He continued by saying: "EVault’s proven technology, which includes a line of highly scalable appliances and advanced disaster-recovery-as-a-service capabilities, enables us to round out our portfolio and immediately provide the features and functionality larger businesses require to support their complex environments."
This isn't the first time that Carbonite has made the news regarding their acquisitions. In fact, the email archival service MailStore was acquired in late 2014. Although Carbonite didn't enter the IT industry until 2005, they are already making quite the name for themselves.
In contrast, EVault has been around since 1997. Formally an offshoot division of Seagate Technology, arguably one of the biggest names in data storage today, Carbonite's acquisition of EVault is a huge step forward for the young company. If nothing else, the move will solidify Carbonite's presence as a major player in the world of data storage, backup and recovery.
Anthony Folger, CFO with Carbonite, shared Ali's enthusiasm and optimism over the recent acquisition. He was quoted as saying: "We are excited to combine two powerful, best-of-breed product portfolios to meet the needs of all SMBs. We expect the acquisition will be accretive to non-GAAP net income per share in year one and will result in more than 50% of Carbonite’s total bookings coming from the sale of SMB products in 2016.” He continued by saying: “Our strong cash position and ability to efficiently deploy capital was extremely advantageous in our ability to make this opportunistic and strategic acquisition."
As far as software solutions are concerned, the acquisition officially adds EVault Cloud Backup and Recovery, EVault Backup and Recovery Appliance and EVault Cloud Resiliency Services to the lineup of Carbonite-sponsored services and solutions. As such, Carbonite's customers stand to benefit from increased access to data protection and recovery technology well into the future.
To find out more information about Carbonite, including details on any of the services, solutions or products they offer, please visit their official website at www.carbonite.com.
Carbonite Buys EVault
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