Backup and recovery provider Carbonite will buy Webroot for about $618.5 million in a move that marries cloud-based endpoint data protection and security. The companies expect the transaction to close in the first quarter.
Webroot, founded in 1997, provides endpoint and network security, threat intelligence services, and security awareness training. The firm’s fiscal year 2018 revenue was about $215 million. It says companies including Cisco, F5 Networks, Citrix, Aruba, and A10 Networks use its threat intelligence.
Carbonite’s Data Protection Platform includes backup, disaster recovery, high availability, and workload migration technology. It was founded in 2005 by David Friend, who took the company public in 2011, and raised $62.5 million in its initial public offering. Friend later left Carbonite and has since founded cloud storage startup Wasabi.
Combining both companies’ technologies will provide a more comprehensive approach to endpoint security, said Mohamad Ali, president and CEO of Carbonite. “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,” he said in a statement. “Backup and recovery, combined with endpoint security and threat intelligence, is a differentiated solution that provides one, comprehensive data protection platform.”
The acquisition comes as other data backup companies are also moving into security. Last month, Cohesity added new capabilities to its data backup platform that prevent, detect, and respond to ransomware attacks. And competitor Rubrik also rolled out its own anti-ransomware service last summer.
The Carbonite-Webroot deal also follows a flurry of security acquisitions in the first two months of 2019 alone. Symantec this week bought startup Luminate Security, and Qualys acquired the software assets of Adya, both for undisclosed amounts.