July 28, 2011

Carbonite, Inc. Announces Proposed Initial Public Offering

BOSTON, July 28, 2011 /PRNewswire/ -- Carbonite, Inc. (the "Company") announced today the launch of its initial public offering of 6,250,000 shares of its common stock. Subject to market and other conditions, the Company expects to sell 5,366,473 shares of common stock and certain selling stockholders expect to sell an aggregate of 883,527 shares of common stock. The Company also expects to grant the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock from the Company to cover over-allotments, if any. The Company will not receive any proceeds from shares of common stock to be sold by the selling stockholders. The Company has applied to list the shares of common stock being offered on the Nasdaq Global Market under the symbol "CARB."

BofA Merrill Lynch and J.P. Morgan Securities LLC are acting as joint book-running managers for the proposed offering. William Blair & Company, LLC, Canaccord Genuity Inc., Oppenheimer & Co. Inc. and Pacific Crest Securities Inc. are acting as co-managers.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the offering may be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or by email at dg.prospectus_requests@baml.com; or from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.

A registration statement on Form S-1 relating to the shares of common stock has been filed with the Securities and Exchange Commission but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement on Form S-1 may be accessed through the SEC's website at http://edgar.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Carbonite

Carbonite is a leading provider of online backup solutions for consumers and small and medium sized businesses. Carbonite provides easy-to-use, affordable, unlimited, and secure online backup solutions that provide anytime, anywhere access to stored files.

SOURCE Carbonite, Inc.


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