OpenText completes $1.45 billion Carbonite purchase

Chicago, Dec. 24 – OpenText Corp. announced that it has completed its acquisition of Carbonite, Inc., according to a press release.

As reported in November, the transaction was funded with cash on hand and a draw on OpenText’s revolving credit facility.

OpenText tendered for all outstanding Carbonite shares at a purchase price of $23.00 per share.

The tender is now complete and Carbonite is now a wholly owned subsidiary of OpenText.

The total purchase price of $1.45 billion is inclusive of Carbonite’s cash and debt.

The OpenText net leverage ratio at the closing was 2.5x, with an expectation to return to less than 2x net leverage during the next four to six quarters.

OpenText is a Waterloo, Ont.-based software provider of business-to-business cloud integration services.

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