![]() So, the deal for Datacastle appears to be a smart move by management intent on acquiring and developing an enterprise-grade mobility backup and recovery offering to take advantage of that growth opportunity.Įarlier in 2017, CARB acquired Double-Take Software for $65.25 million in cash and stock. One of the drivers for this demand growth was cited as the ‘growing need for enterprise mobility.’ That posture is not surprising, given CARB’s past focus on small and medium sized businesses, since the current deal represents the beginnings of a move into providing larger enterprises with mobile endpoint backup and recovery offerings.Īccording to a 2016 Markets and Markets Research Report on cloud storage, it forecasted the overall market to grow from $24 billion in 2016 to $75 billion in 2021, a tremendous CAGR of nearly 26% for the six-year period. The deal was confirmed by Carbonite’s SVP Marketing, Norman Guadagno, but Carbonite has been otherwise tight-lipped about it. Neither company disclosed the acquisition price or terms and Carbonite didn’t file an 8-K, which would have been required had the deal materially changed its financial condition. The firm raised at least $13 million in separate rounds of equity financing from Talu Ventures, an Australia-based venture capital firm, and debt funding from an undisclosed investor. The company launched its Analytics system in November, 2016, possibly in connection with its earlier acquisition of Seagate Technology’s endpoint data protection assets.ĭatacastle had developed a robust partner program composed of OEMs, telecoms, ISPs and MSPs, as well as value-added resellers.
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