The yearly revenue was a 24% year-over-year increase.
Revenue for 2018 was $296.4 million, according to Carbonite, under the projected $297 million to $300 million. Business bookings totaled $54.9 million for the quarter, a 35% year-over-year increase. That reported revenue marked an increase of 25% year over year.Ĭarbonite consumer bookings measured $23.9 million for the quarter, an increase of 23% year over year. In the fourth quarter of 2018, Carbonite had slightly higher bookings and slightly lower revenue than expected, said CFO Anthony Folger.Ĭarbonite reported $77 million in revenue for the fourth quarter, less than its projected $77.6 million to $80.6 million. "It has to be a requirement." Earnings report mixed "Protection is not an option," Guadagno said. In addition, backup vendors such as Asigra have been adding more security features devoted to ransomware detection. With the Carbonite acquisition of Webroot, Goodwin said he sees Code42 and Barracuda targeting similar segments in the market. In 2015, Carbonite purchased Seagate's EVault cloud backup and DR-as-a-service business.
#CARBONITE ENDPOINT PRICING SOFTWARE#
In 2017, Carbonite purchased Datacastle's endpoint backup and Double-Take Software for HA technology. Ali said Carbonite has migrated more than 25,000 Mozy customers onto its platform.Ĭarbonite has been building a data protection portfolio that includes backup, HA, disaster recovery (DR) and migration tools. At the time, Mozy had about 100,000 consumer customers and 35,000 business subscribers. That Carbonite acquisition was largely to acquire a customer base. In 2018, Carbonite acquired Mozy, one of its oldest cloud backup competitors. "Many of these acquisitions were acquiring a specific piece of technology to help build out our platform or increase our efficiencies of scale by adding a large number of customers to our platform," Ali said. In addition to organic development, acquisitions have been a major piece of Carbonite's growth strategy for years, CEO and President Mohamad Ali said on the vendor's earnings call last Thursday. "We have such an excited workforce." Carbonite continues acquisition activity There are no plans to move offices, according to Carbonite. "We see this as a combination of two very strong businesses," which are different but complementary, Guadagno said, noting that it's not a consolidation. Guadagno said Carbonite hasn't disclosed plans specific to employees but sees the acquisition as including the entire Webroot team. Potts said Webroot is continuing to hire. Norman GuadagnoSenior vice president of marketing, CarboniteĬarbonite has about 1,000 employees, and Webroot has about 650. We see this as a combination of two very strong businesses. It's expected to close by the end of March.Ĭarbonite agreed to pay the $618.5 million to Webroot's majority owners, TCV and Accel, both venture capital firms, as well as option holders.
The Carbonite acquisition is financed through existing cash and $550 million in fully committed term loan financing from Barclays, Citizens Bank and RBC Capital Markets. "People are looking at data protection and security holistically," Goodwin said. In addition, a lot of businesses are conflating data protection and data security. "This is an important and interesting way for them to fill out that broader list of requirements," Goodwin said. And a cloud service provider needs a bigger portfolio of products, including data security, in addition to backup. Phil Goodwin, research director at IDC, said Carbonite functions like a cloud service provider because its go-to-market strategy is in backup as a service.
Phishing attacks and the need for domain name system protection are also major issues in security, Potts said. If the Carbonite acquisition can combine BC and endpoint security succinctly, Potts said, "we may be able to put an end to ransomware." More than 12,000 Carbonite customers have been hit with ransomware and then worked with the vendor to successfully recover data, Guadagno said. Ransomware in particular has been a recurring problem for businesses. Combining business continuity (BC), backup and recovery with cybersecurity would solve a key need for SMBs, said Mike Potts, CEO and president of Webroot.
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