Long-standing, Colorado-based client Webroot Inc., the Smarter Cybersecurity® company and global market leader in next-generation threat intelligence and protection for endpoints, networks, and end users, today announced it has entered into a definitive agreement to be acquired by Carbonite, a global leader in data protection solutions for businesses. The transaction is valued at approximately $618.5 million.
Carbonite will fund the transaction with existing cash on hand and funds secured under a new credit facility. The combined business will address a top vulnerability of businesses - the endpoint - with a comprehensive approach to protection through cloud-based cybersecurity, paired with cloud-based backup and recovery.
Holland & Hart’s M&A team has served as deal counsel to Webroot in numerous transactions in recent years. The sale of Webroot is one of the M&A team’s many deals advising clients in the ever-evolving cybersecurity and technology industry. The Holland & Hart Webroot deal team was led by Denver Corporate attorneys James Crowe, Chris Balch, and Paige Coriden. Goodwin Procter served as co-counsel on the transaction.
For more information, please see Carbonite’s press release.