Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
FedEx Beats Q2 Earnings Expectations, Raises Full-Year Outlook Despite Stock Dip 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
BOSTON, Aug. 22, 2017 -- Carbonite, Inc. (NASDAQ:CARB), a leading provider of cloud, hybrid and onsite data protection solutions, today announced it has entered into an agreement to provide a transition path for customers from the CrashPlan for Home division of Code42 Software to Carbonite. The deal strengthens Carbonite’s competitive advantage and positions the company as a leading provider of flexible data protection solutions.
“Carbonite is quickly acquiring an interesting set of technologies to broaden its data protection portfolio and expand its customer base,” said Phil Goodwin, Research Director at IDC. “This strategic referral arrangement of Code42’s CrashPlan for Home customers gives Carbonite an additional economy of scale in its historic core business. Thus, the company is pursuing efficiencies in its consumer business, while assembling a powerful set of technologies as it aggressively expands into the business market.”
As a result of the deal, Code42 will no longer sell CrashPlan for Home subscriptions. Code42 will honor all subscriptions for existing consumer customers and CrashPlan for Home will end after October 22, 2018, at which date the product will no longer be available for customers’ use. Throughout the transition period, Carbonite will offer an exclusive discount to CrashPlan for Home customers. Both companies are committed to working together to ensure that all customers have the best possible experience.
“We are thrilled to welcome CrashPlan for Home customers to Carbonite and are prepared to help them throughout this transition” said Mohamad Ali, President and CEO of Carbonite. “The partnership increases Carbonite’s efficiency and scale and enables us to invest further in our market-leading data protection solutions that serve a broad range of customer needs.”
“The needs of home consumers and business customers are rapidly diverging, and we made the strategic decision to focus exclusively on the business market due to the unique value we provide to businesses of all sizes and the hyper-growth we are experiencing in that segment,” said Joe Payne, President and CEO of Code42. "We carefully evaluated our at-home consumers' long-term needs for backup and support and found Carbonite's powerful, yet simple consumer backup solutions were the best fit for our CrashPlan for Home customers.”
Customers can begin their transition by visiting: https://portal.carbonite.com/#/welcometocarbonite/landingpage
About Carbonite
Carbonite provides data protection solutions for businesses and the IT professionals who serve them. Our solution suite provides a full complement of backup, disaster recovery, high availability and migration solutions for any size business in locations around the world, all supported by secure and scalable global cloud infrastructure. To learn more visit www.Carbonite.com.
Contacts Investor Relations Contact: Jerry Sisitsky Carbonite 781-928-0713 [email protected] Media Contacts: Sarah King Carbonite 617-421-5601 [email protected] Kelsey Shively, Weber Shandwick (for Carbonite) 425-306-2090 [email protected]
