The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Carbonite Inc, a provider of data protection services, is exploring a sale after receiving takeover interest, according to people familiar with the matter. Its shares rose.
The Boston-based company is working with a financial adviser, said the people, who asked to not be identified because the matter isn’t public. It has drawn interest from private equity, the people said.
It is early in the process, no decision has been made and Carbonite could opt to remain independent, they said.
Carbonite’s shares fell sharply in July after it cut its revenue forecast for the year and announced CEO Mohamad Ali had decided to step down to take a job running International Data Group Inc.
The company offers data backup, disaster recovery and other services to businesses, according to its website.