Carbonite, Inc., a cloud-based data protection provider, is acquiring of Webroot Inc., combining cloud-based backup and recovery with cloud-based cybersecurity. The total purchase price for Webroot was $618.5 million in cash, as adjusted with respect to cash, debt, transaction expenses and working capital. The purchase price was funded with existing cash on hand and funds secured under a new $550 million term loan. The interest rate on the term loan is a floating rate based upon LIBOR plus 3.75%.
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