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BOSTON, MA & MUNICH, GERMANY – May 31, 2016 — /BackupReview.info/ — Carbonite, Inc. (Nasdaq:CARB), a leading provider of cloud backup and restore solutions for small and midsized businesses (SMBs), today announced that it has completed the acquisition of the European cloud-based business continuity and disaster recovery assets of EVault, a division of Seagate Technology (NASDAQ:STX). Under its management, Carbonite will continue to invest in EVault’s successful channel-led strategy throughout the region.
“According to industry analyst IDC, the worldwide data protection and recovery market is expected to grow to $8.2 billion in actual spend by 2019, with the majority of the growth coming from cloud backup solutions, making this an ideal time to invest in cloud-based data protection,” said Paul Mellinger, SVP of EVault. “EVault’s channel-led strategy has proven to be highly successful throughout the region, and we plan to build on this strategy, working with resellers and managed service providers to bring EVault’s cloud solutions to market.”
Founded in 1997 and purchased by Seagate Technology in 2007, EVault is a leading provider of disaster recovery and business continuity solutions designed for SMBs and small enterprises. In contrast to vendors who provide exclusively on-premise software and appliances, EVault offers a full line of cloud-based appliances and cloud services such as failover, which enable customers to continue normal operations in the event that a physical server fails. EVault’s cloud approach has many similarities to Carbonite’s and is designed for larger customers with more complex IT environments. As a result, the acquisition enables Carbonite to expand its addressable market, which it estimates to be worth $13 billion dollars in the U.S. and more than $40 billion worldwide.
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