Carbonite closes EVault acquisition

Firm stresses it plans to continue investing in EVault's channel strategy

Carbonite has completed the acquisition of EVault for $14m (£9.58m), nine years after Seagate paid $185m for the cloud-based firm.

The deal, first announced at the end of last year, will see Carbonite invest in EVault's channel model and expand its addressable market - estimated to be worth more than $40bn worldwide.

Paul Mellinger, senior vice president at EVault, said: "According to industry analyst IDC, the worldwide data protection and recovery market is expected to grow to $8.2bn 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.

"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, EVault provides disaster recovery and business continuity solutions for SMBs.