Carbonite (CARB), a provider of data protection services and endpoint security, has agreed to be bought by OpenText (OTEX) for $23.00 per share in cash, a 25% premium to the last closing price preceding the announcement and a 78% premium to the unaffected closing price on the day prior to reports that the company was considering a sale.
Read MoreAmong several M&A transactions this week, Asure Software’s (ASUR) divestiture of its Workspace Management business to FM:Systems for $120 million in cash, representing a TTM EV/Sales multiple of 4.3x was most notable given the market’s positive reaction. The sale frees the company to focus on its Human Capital Management (HCM) solutions, which span payroll, time and attendance, and consulting services and generated revenues of $71.6 million over the past 12 months.
Read MoreOn the deal front this week, Akamai Technologies (AKAM) acquired KryptCo’s multifactor authentication technology for an undisclosed price. Targeted at enterprises, the technology is resistant to phishing and offers a simplified user experience that does not require the entering of pin codes.
Read MoreFollowing a 13D/A filing by controlling shareholder Dell Technologies (DELL) disclosing merger discussions, Pivotal Software (PVTL) confirmed that the company is negotiating an agreement to be acquired by VMware (VMW) for $15.00 per share in cash, representing a premium of nearly 81% to the close price prior to the disclosure.
Read MoreInteresting developments in both the supply chain management and customer engagement software segments this week.
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