After a long stint inside the evolving EMC-VMware-Dell Technologies conglomerate, Mozy has a new home at Carbonite.
Carbonite, which recently expanded to Seattle itself with the acquisition of Datascale, acquired Mozy earlier this week from Dell Technologies for $145.8 million in cash. Both companies offer consumer and professional online backup services, helping people and companies protect locally stored data against theft, disaster, or a laptop left behind in a cab.
Mozy has bounced around between corporate parents over the years. EMC originally acquired the company in 2007, and transferred ownership of it to sister company VMware in 2011. When Michael Dell formed the Dell Technologies conglomerate in 2016 after buying EMC, Mozy went along for the ride.
But Dell Technologies is a heavily leveraged entity, and there have been several reports over the last few weeks that the company is considering strategic options to raise cash in order to cover that debt. Mozy will now live under a company that is looking to grow its slice of the backup-and-recovery pie, as Carbonite’s third major acquisition in a little over a year.
Carbonite reported its fourth-quarter earnings alongside news of the deal. Revenue grew 15 percent to $61.7 million during the quarter, while basic earnings per share, excluding special items, was $0.31, up 158 percent from the same quarter a year ago.