- Published: 03 December 2014
- Written by Editor
Carbonite Confirms Receipt of Unsolicited Proposal From J2 Global, Inc.
BOSTON, Dec. 3, 2014 -- Carbonite, Inc. (CARB), a leading provider of cloud and hybrid backup and recovery solutions for businesses, today announced that it has received an unsolicited proposal from J2 Global, Inc. ("J2") to acquire all of the outstanding shares of Carbonite for $15.00 per share in cash. Consistent with its fiduciary duties and in consultation with financial and legal advisors, Carbonite's Board of Directors will carefully review and consider the offer to determine the course of action that it believes is in the best interests of the Company and its shareholders, taking into account the Company's current strategic plan and growth initiatives.
As part of the commitment of Carbonite's Board and management to shareholders, the Board regularly reviews all options for generating and delivering value. Carbonite does not intend to disclose developments regarding these matters unless and until its Board determines there is a material need to update the market.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and are based on current expectations as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Carbonite's control. Carbonite expressly disclaims any intent or obligation to update these forward-looking statements except as required by law. Additional information concerning these and other risks can be found in press releases issued by Carbonite, as well as Carbonite's public filings with the U.S. Securities and Exchange Commission, including the discussion under the heading "Risk Factors" in Carbonite's most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. Copies of Carbonite's press releases and additional information about Carbonite are available at www.carbonite.com.
Carbonite (CARB) is a leading provider of cloud and hybrid backup and recovery solutions for businesses. Carbonite offers a comprehensive suite of affordable services for data protection, recovery and anywhere, anytime access. More than 1.5 million customers, including 50,000 small businesses, trust Carbonite's secure, easy-to-use cloud backup solutions and award-winning U.S.-based customer support. For more information, please visit Carbonite.com, connect with us on Twitter @carbonite or visit our Facebook page.