OpenText’s $1.42 Billion Acquisition of Carbonite

Cleary Gottlieb represented OpenText Corp. in the transaction. J.P. Morgan Securities LLC acted as financial advisor to Carbonite, and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor.

OpenText Corp. (NASDAQ: OTEX, TSX:OTEX) executed the acquisition of Carbonite, Inc. (NASDAQ: CARB) for a total enterprise value of approximately $1.42 billion in cash, $23.00 per share.

The transaction was announced on November 11, 2019.

OpenText, a Canadian corporation, is a global leader in enterprise information management.

Carbonite is a leading provider of cloud-based subscription data protection, backup, disaster recovery, and endpoint security solutions.

The Cleary M&A team included partner Neil Whoriskey (Picture), associates Matt Smallcomb and Daniel Canavan, and law clerks Christopher Reszczynski, and Jean Lee. Counsel Kathleen Emberger, associate Brad Brown, and law clerk Francesca Crooks are advising on employment matters. Partner Daniel Ilan and associate Alexandra Theobald are advising on intellectual property and U.S. data privacy matters. Counsel Jonathan Gifford and associate Lorenz Haselberger are advising on tax matters. Partner Mark Nelson, associate Grant Bermann, and international attorney Christian Fischoeder are advising on U.S. antitrust matters. Partner Romina Polley, senior attorney Michael Mayr, and associate Rieke Kaup are advising on German antitrust matters. Partner Paul Marquardt and senior attorney John McGill, Jr. are advising on CFIUS and related matters. Senior attorney Jim Corsiglia is advising on anticorruption matters. Partner Craig Brod provided disclosure and securities advice.

The Skadden team included M&A partners Graham Robinson (Boston) and Faiz Ahmad (Wilmington), and associates Sarah Moros (New York), Sydney Gaylin (Boston) and Chadé Severin (Boston); Intellectual Property counsel Ken Kumayama (Palo Alto); Executive Compensation and Benefits counsel Timothy Nelson (Boston) and Shalom Huber (New York); Labor and Employment partner David Schwartz (New York); Tax partner Moshe Spinowitz (Boston); and Antitrust/Competition partner Maria Raptis (New York).

Involved fees earner: Grant Bermann – Cleary Gottlieb Steen & Hamilton; Craig Brod – Cleary Gottlieb Steen & Hamilton; Brad Brown – Cleary Gottlieb Steen & Hamilton; Daniel Canavan – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton; Kathleen Emberger – Cleary Gottlieb Steen & Hamilton; Christian Fischoeder – Cleary Gottlieb Steen & Hamilton; Jonathan Gifford – Cleary Gottlieb Steen & Hamilton; Lorenz Haselberger – Cleary Gottlieb Steen & Hamilton; Daniel Ilan – Cleary Gottlieb Steen & Hamilton; Rieke Kaup – Cleary Gottlieb Steen & Hamilton; Paul Marquardt – Cleary Gottlieb Steen & Hamilton; Michael Mayr – Cleary Gottlieb Steen & Hamilton; John McGill Jr – Cleary Gottlieb Steen & Hamilton; Mark Nelson – Cleary Gottlieb Steen & Hamilton; Romina Polley – Cleary Gottlieb Steen & Hamilton; Matt Smallcomb – Cleary Gottlieb Steen & Hamilton; Alexandra Theobald – Cleary Gottlieb Steen & Hamilton; Neil Whoriskey – Cleary Gottlieb Steen & Hamilton; Faiz Ahmad – Skadden Arps Slate Meager & Flom; Sydney Gaylin – Skadden Arps Slate Meager & Flom; Shalom Huber – Skadden Arps Slate Meager & Flom; Ken Kumayama – Skadden Arps Slate Meager & Flom; Sarah Moros – Skadden Arps Slate Meager & Flom; Timothy Nelson – Skadden Arps Slate Meager & Flom; Maria Raptis – Skadden Arps Slate Meager & Flom; Graham Robinson – Skadden Arps Slate Meager & Flom; David Schwartz – Skadden Arps Slate Meager & Flom; Chadé Severin – Skadden Arps Slate Meager & Flom; Moshe Spinowitz – Skadden Arps Slate Meager & Flom;

Law Firms: Cleary Gottlieb Steen & Hamilton; Skadden Arps Slate Meager & Flom;

Clients: Carbonite; OpenText;