opentext carbonite layoffs

This is the Carbonite company profile. You can also subscribe without commenting. OpenText is a big software conglomerate that tends to purchase slow-growing or declining (aka, "boring") enterprise software companies and consolidates them, cutting costs and milking the existing customer base for updates and support contracts. But a restructuring also involves some job cuts. Marketing Technology News: Integral Ad Science Expands Business … Carbonite & Webroot hit financial targets in latest quarter. Your email address will not be published. And GAAP net income was $26.0 million. $1.45 billion Carbonite-Webroot acquisition, MSP 200: Top 200 Public Cloud MSPs for AWS, Microsoft Azure & Google, Technology Mergers and Acquisitions: Deal List. Notify me of followup comments via e-mail. OpenText noted that the purchase price is about 2.8 times Carbonite’s trailing 12 months GAAP revenue. OpenText has … OpenText Buys Carbonite, Inc. The Carbonite and Webroot products are not yet fully integrated on all fronts, particularly when it comes to MSP dashboards, and connections to third-party tools like RMM (remote monitoring and management) and PSA (professional services automations). OpenText expects Carbonite to contribute no material revenue or operating expenses over the holiday season between December 24 th and 31 st, … BOSTON, MA - November 11, 2019 - Carbonite, Inc. (NASDAQ: CARB), a global leader in data protection and cybersecurity, today announced that it has entered into a definitive agreement to be acquired by OpenText TM (NASDAQ: OTEX, TSX:OTEX), a market leader in Enterprise Information Management software and solutions, for $23.00 per Carbonite share in cash. The company says claims in the four lawsuits filed over its impending sale are "without merit." Total revenue was $814.7 million — up 13.3 percent. Open Text said the shuttering would save the company between US$65-million and US$75-million a year. Guiding VARs, MSPs, CSPs, Total Service Providers (TSPs) s & Strategic IT Service Providers: From Entrepreneur to Exit. OpenText expects Carbonite to contribute no material revenue or operating expenses over the holiday season between December 24 th and 31 st, … They include: Carbonite Chief Revenue Officer Craig Stillwell has joined OpenText’s leadership team and is now executive VP of SMB and Consumer. This morning OpenText announced that it has acquired cloud-based subscription data protection, backup, disaster recovery and end-point security maker Carbonite for $1.42 billion. 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). E-mail Address. In an earnings call yesterday, OpenText CEO Mark Barrenechea described four long-term opportunities for Carbonite and Webroot. 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. Canada based OpenText, is a leading content services provider and has announced the acquisition of Carbonite, a cloud-based data protection and cybersecurity solutions provider. You can also subscribe without commenting. He reports directly to Barrenechea, and leads the Carbonite business. A free inside look at company reviews and salaries posted anonymously by employees. OpenText to Acquire Carbonite, Inc. Canada NewsWire WATERLOO, Ontario, Nov. 11, 2019 Cloud Based Data Protection and End-Point Security Solutions to Expand OpenText… It made its decision as many companies face … Now, it’s up to OpenText to integrate and innovate around those two areas, essentially blending them into one true cyber resilience solution. I just returned from Sales University at Opentext and without a doubt, this is the best training I have ever received. 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. Carbonite and sister business Webroot hit their financial targets in the most recent fiscal quarter. 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. Save my name, email, and website in this browser for the next time I comment. Executive VP Craig Stillwell is leading that SMB effort. Guiding VARs, MSPs, CSPs, Total Service Providers (TSPs) s & Strategic IT Service Providers: From Entrepreneur to Exit. Meanwhile, OpenText’s SMB business — the Carbonite and Webroot portfolios — are growing. Amid that reality, OpenText took several steps to restructure its business while also cutting certain costs through mid-2021. OpenText announced that veteran OpenText executive Prentiss Donohue has been appointed Executive Vice President, SMB/C Sales (Small and Medium-Sized Business and Consumer). Specifically, Carbonite can provide endpoint data protection as well as ensure the authenticity and integrity of every file, the company says. OpenText beats analyst estimates but plans layoffs following US$1.42-billion Carbonite acquisition By Zane Schwartz Jan 31, 2020 The Waterloo-based software firm reported earnings per share of US$0.84, beating the US$0.78 consensus estimate. 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. But amid the coronavirus pandemic and its economic impact, parent OpenText has rolled out a restructuring plan that includes some layoffs and temporary pay cuts, CEO Mark Barrenechea disclosed on the company’s May 1 earnings call. In a press release about the restructuring, OpenText did not disclose how many positions will be impacted. OpenText, parent of Carbonite and Webroot, is cutting 5 percent of its staff and reducing compensation in many areas through June 2021, CEO Mark Barrenechea disclosed on the company’s May 1 earnings call. The Carbonite-Webroot combo is a rare example of (1) data protection and (2) endpoint protection intellectual property living under one company’s roof. Expand the Carbonite opportunity within the OpenText enterprise. 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