Notify me of followup comments via e-mail. The transaction values Carbonite … You may read and copy any reports or other information filed by OpenText or Carbonite at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Total revenue was $814.7 million — up 13.3 percent. Multiple technology companies have confirmed targeted staff cuts since the coronavirus pandemic rocked the U.S. economy starting in mid-March 2020. Required fields are marked *. Technology Reporter Published January 30, 2020 Updated 7 hours ago Open this photo in gallery OpenText CEO Mark Barrenechea speaks at the Open Government Partnership Global Summit in Ottawa on May 29, 2019. Notify me of followup comments via e-mail. When further quizzed about Carbonite’s performance during the quarter, Barrenechea pointed to “good integration and execution, as well as an uptick” in the Work From Home (WFH) opportunity. You can also subscribe without commenting. But the growth-focused journey also involves a restructuring plan that will impact the technology company’s global workforce and consolidate some real estate facilities, OpenText said Thursday. StreetInsider.com Top Tickers, 12/24/2019. But the combination of data protection and cybersecurity faces growing competition. The company recently completed its fiscal Q2 2020. Over 35,000 startup employees have been laid off amid the COVID-19 pandemic. But a restructuring also involves some job cuts. Now, it’s up to OpenText to integrate and innovate around those two areas, essentially blending them into one true cyber resilience solution. The deal’s big focus involves a Cyber Resilience strategy — … Carbonite & Webroot hit financial targets in latest quarter. E-mail Address. And GAAP net income was $26.0 million. OpenText expects Carbonite to contribute no material revenue or operating expenses over the holiday season between December 24th and 31st, within the current quarter (Fiscal 2020 Q2). Glassdoor gives you an inside look at what it's like to work at Carbonite, including salaries, reviews, office photos, and more. OpenText expects Carbonite to contribute no material revenue or operating expenses over the holiday season between December 24 th and 31 st, … Wall Street appears to like the overall OpenText strategy. Your email address will not be published. Please call … OpenText announced that veteran OpenText executive Prentiss Donohue has been appointed Executive Vice President, SMB/C Sales (Small and Medium-Sized Business and Consumer). OpenText will buy Carbonite for $1.42 billion, or $23 a share in cash, in a deal that represents the company's 9th cloud related acquisition. Save my name, email, and website in this browser for the next time I comment. Expand the Carbonite opportunity within the OpenText enterprise. Also, an integrated Carbonite and Webroot channel partner program won’t likely debut until around mid-2020 — a slight delay from an earlier target of February 2020. OpenText has acquired Carbonite and Webroot Get total endpoint protection for the enterprise, SMB and consumer markets Strengthen cyber resilience with the combined power of Carbonite data protection and back-up, Webroot endpoint protection and threat intelligence and OpenText Encase digital forensic and investigation solutions. contributors by 5%, with some exceptions in India and in Philippines. OpenText Buys Carbonite, Inc. Canada NewsWire WATERLOO, Ontario, Dec. 24, 2019 WATERLOO, Ontario, Dec. 24, 2019 /CNW/ -- OpenText™ (NASDAQ: OTEX) … OpenText Cloud Edition, the company's content management application and services suite, adds developer tools to speed its customers' cloud integrations as well as experience platform features. In an earnings call yesterday, OpenText CEO Mark Barrenechea described four long-term opportunities for Carbonite and Webroot. Amid that reality, OpenText took several steps to restructure its business while also cutting certain costs through mid-2021. OpenText noted that the purchase price is about 2.8 times Carbonite’s trailing 12 months GAAP revenue. I just returned from Sales University at Opentext and without a doubt, this is the best training I have ever received. All contents © 2020 ChannelE2E and After Nines Inc. During a briefing with ChannelE2E earlier this month, Stillwell expressed strong optimism in Carbonite’s Cyber Resilience strategy — which essentially blends data protection and cybersecurity into a 360-degree, automated business protection system. In a press release about the restructuring, OpenText did not disclose how many positions will be impacted. As a Sales Executive, I have been through lots of sales training. The chief executive officer of OpenText Corp. said his company is open to more acquisitions after announcing on Monday a US$1.42-billion deal to buy Carbonite Inc. “We still have more capital to deploy with the right deal,” OpenText’s CEO Mark Barrenechea told BNN Bloomberg’s Jon Erlichman in an interview Monday from Silicon Valley. 1. The deal included the Webroot cybersecurity business — and relationships with 16,000 channel partners, OpenText asserts. Carbonite shareholders sue to stop $1.42 billion sale to OpenText. Your email address will not be published. Further financial projections from OpenText, as well as updated target models, will be provided when the company reports its second quarter Fiscal 2020 financial & business results. OpenText completed the Carbonite acquisition, Top 200 Managed Security Services Providers (MSSP) Company List, Top 20 Managed Detection and Response (MDR) Company List. Mr. Donohue replaces Craig Stilwell, who is retiring from OpenText following the successful integration of Carbonite into OpenText. The company says claims in the four lawsuits filed over its impending sale are "without merit." MSPs can manage the integrated service from a single management console, the company says. This acquisition is valued at about US$1.42 billion, which includes debt obligations. OpenText completed the Carbonite acquisition in December 2019. Your email address will not be published. Closing 50% of OpenText’s offices — most of which are smaller locations. It made its decision as many companies face … Your email address will not be published. Carbonite and Webroot were acquired by OpenText in December 2019. OpenText completed the $1.45 billion Carbonite-Webroot acquisition in December 2019. Earlier today, Acronis unveiled Acronis Cyber Protect — a service that spans backup and disaster recovery (BDR),  anti-malware, cybersecurity, and endpoint management tools. by Joe Panettieri • Jan 31, 2020. OpenText completed the $1.45 billion Carbonite-Webroot acquisition in December 2019. Carbonite and sister business Webroot hit their financial targets in the most recent fiscal quarter. Save my name, email, and website in this browser for the next time I comment. Still, it’s unclear how long the current economic challenges will continue. Expand the MSP and RMM channels and thereby increase reach. Wall Street was thrilled over reported Q1 profit by OpenText, largely via layoff in May/June, now Banks are pressuring Mark to do RIF in the US, have the Indian teams replace the more expensive workforce. 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