case study

December, 2014

Deal type



Technology, Internet & Digital

We really enjoyed working with Pericap. The team provided hands-on, senior-level attention throughout our transaction and worked tirelessly to execute a highly disciplined, competitive process. Their contribution was fundamental in bringing about a successful conclusion. Pericap helped us navigate challenging, industry-specific issues through to selling our software business to a NASDAQ-listed US company with a great strategic fit.

Tim Berger | Co-Founder and CEO, MailStore Software GmbH


MailStore Software sold to Carbonite

Pericap advised on the sale of German software company MailStore Software GmbH, a global leader in email archiving solutions for small and midsize businesses (SMBs), to Carbonite, Inc. (NASDAQ: CARB), a leading provider of cloud and hybrid backup and recovery solutions for businesses.

Founded in 2006 and based in Viersen, Germany, MailStore provides email archiving solutions for SMBs. Its flagship solution, MailStore Server, is used by more than 22,000 businesses, including public and educational institutions. MailStore Server creates 1:1 copies of all emails in a central email archive to ensure the long-term security and availability of data. Its search and indexing capabilities provide full-text search of emails and attachments, and the solution works with all major email systems, including cloud email such as Office 365 and Gmail, as well as Exchange, PST files, and all IMAP and POP3-compatible email servers. In 2014, MailStore released a Service Provider Edition that enables channel partners to run the software on their own infrastructure and adapt it to their clients’ business requirements.

Boston-based Carbonite (Nasdaq:CARB) is a leading provider of cloud and hybrid backup and recovery solutions for businesses. Carbonite offers a comprehensive suite of affordable services for data protection, recovery and anywhere, anytime access. More than 1.5 million customers, including 50,000 small businesses, trust Carbonite’s secure, easy-to-use cloud backup solutions and award-winning U.S.-based customer support.

Tim Berger, co-founder and CEO, MailStore, said: “Since its founding, MailStore has been focused on developing enterprise-grade solutions tailored to the needs of small and midsize businesses. We’re excited to join Carbonite as they embrace a similar philosophy and define what business continuity means for SMBs.”

This acquisition advances Carbonite’s plan for global expansion and enhances the company’s portfolio of continuity solutions for SMBs with email archiving and indexing solutions, which businesses around the world rely on to keep a complete history of their business data and ensure data integrity. It marks Carbonite’s third acquisition at all and its first in Europe. Mohamad Ali, CEO, Carbonite, said: “MailStore is a great fit for Carbonite, as both companies are committed to providing SMBs with powerful yet simple data protection solutions.”

Pericap acted as exclusive M&A adviser to the shareholders of MailStore Software on all aspects of the transaction, including preparation of the business plan and marketing materials, identifying and approaching potential buyers as well as transaction negotiations.

The transaction was signed and closed in December, 2014. Terms of the transaction were not disclosed.