This is a Press Release edited by: StorageNewsletter.com
Source URL: http://www.storagenewsletter.com/rubriques/mas/carbonite-acquires-double-take-software-for-65-million/
Carbonite, Inc. has acquired Double-Take Software, an affiliate of Vision Solutions, Inc. and Clearlake Capital Group, L.P.
The acquisition enhances Carbonite’s existing suite of data protection solutions for SMBs with HA technology that minimizes downtime.
Carbonite also announced preliminary fourth quarter and full year 2016 financial results.
The aggregate purchase price for Double-Take Software was $65.25 million, comprised of $59.75 million in cash and $5.5 million in Carbonite common stock, representing approximately 332,000 shares. Of the $59.75 million in cash, $20.55 million was funded with cash on hand and $39.2 million was funded through a revolving credit facility at Silicon Valley Bank.
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The transaction closed on January 31, 2017.
Barclays acted as financial advisor to the company.
Double-Take HA solutions have been trusted by businesses for more than two decades to protect them from the costs and consequences of unplanned downtime and data loss. Available for both Windows and Linux, these solutions help keep businesses running in the face of increasing cyber-threats, disasters, and technology failures.
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Calsoft is a leading software product engineering services company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. www.calsoftinc.com