Carbonite Buys EVault, Gains 200 Employees in Data Recovery
[Corrected, 1:40 pm. See below] One of the Boston area’s technology pillars just got stronger. Carbonite, a cloud backup and data protection company, says it is acquiring San Francisco-based EVault for $14 million in cash. The acquisition is expected to be complete in the first quarter of 2016.
More important, Carbonite (NASDAQ: CARB) is gaining 200-plus employees and plenty of business in disaster recovery and business continuity. With EVault, small and medium-size businesses will account for more than half of Carbonite’s bookings next year, according to the company. By my count, the deal will put Carbonite at over 800 employees total. [A previous version said EVault would account for over half of Carbonite’s SMB bookings, which was a misinterpretation of a company statement—Eds.]
The company is led by Mohamad Ali (pictured), a veteran of IBM and Hewlett-Packard who joined as CEO just over a year ago. Carbonite was founded in 2005 and went public in 2011. The company has been growing in part through acquisitions, including the purchase of e-mail archiving firm MailStore last December.