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 MoreJust when we thought the summer doldrums were upon us, VMware (VMW) made waves with the announcement of two public company take-outs. The first, an acquisition of long-time partner and fellow Dell Technologies (DELL) controlled company Pivotal Software (PVTL), came as no surprise given last week’s 13D/A by Dell Technologies disclosing merger discussions.
Read MoreAfter an on-again, off-again courtship, Broadcom (AVGO) and Symantec (SYMC) finally sealed the deal, albeit on a more limited basis than first rumored. Rather than acquiring the company outright, Broadcom will acquire Symantec’s Enterprise Security assets, including the Symantec brand, for $10.7 billion in cash.
Read MoreWe made a pit stop in Indy to attend the United States Postal Service’s (USPS) National Postal Forum to start the week.
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