CrashPlan Completes Acquisition of Parablu

Addition of Microsoft 365 Data Protection Capabilities Augments CrashPlan’s Portfolio of Data Resiliency Solutions

Minneapolis, MN – October 8, 2024 – CrashPlan LLC (“CrashPlan”), a portfolio company of Mill Point Capital LLC (“Mill Point”) and a leader in data protection and recovery solutions, announced today its acquisition of Parablu Inc. (“Parablu”), a provider of data security and resilience technology specializing in Microsoft 365 (“M365”) data protection. The Parablu acquisition strengthens CrashPlan’s ability to deliver comprehensive backup and recovery solutions for servers, endpoint devices, and data within M365 applications including Exchange, OneDrive, SharePoint, and Teams.

“With Parablu’s deep expertise in Microsoft 365 data protection, this acquisition strengthens our ability to offer customers a more comprehensive and scalable data resilience platform. We are excited to bring together our teams and technologies to deliver an expanded set of solutions that will help businesses protect their most critical assets,” said CrashPlan CEO, John Becker. “This partnership accelerates our go-to-market strategy by allowing us to better serve both existing and new customers across a range of industries.”

“The integration of Parablu’s technology will enhance our market position and provide a compelling value proposition to customers seeking robust data protection solutions. We are excited about the potential this partnership brings,” added Rick Marcotte, Mill Point Executive Partner and Board Member of CrashPlan.

With the acquisition of Parablu, CrashPlan will offer enhanced capabilities to safeguard critical data against threats like accidental data deletion, ransomware, and service disruptions. Parablu’s patented integration with Microsoft OneDrive allows businesses to leverage existing storage infrastructure for secure backups. Parablu’s differentiated offering combined with CrashPlan’s proprietary global cloud infrastructure can provide customers with cost-effective and reliable backup solutions.

“Joining forces with CrashPlan opens up incredible opportunities for us to deliver even more value to our customers. Together, we will build on our shared vision of creating a leading data protection platform,” commented Parablu CEO, Anand Prahlad. “By combining our capabilities, we are positioned to offer stronger, more cost-effective solutions that meet the evolving needs of businesses. I am excited about our future as we embark on this next chapter of growth together.”

About CrashPlan
CrashPlan® empowers businesses with secure, scalable, and easy-to-use backup and recovery solutions. Built to protect against data loss, ransomware, and other cyber threats, CrashPlan ensures business continuity for companies of all sizes. For more information, please visit crashplan.com.

About Parablu
Parablu, an award-winning provider of secure data management solutions, helps enterprises achieve data security and resiliency through its SaaS offerings. Parablu provides a range of solutions designed to protect and keep business data safe. These products include BluVault—a suite of powerful and secure data backup solutions—and BluSync™—a suite of solutions designed for managed file transfer and secure collaboration. Parablu helps enterprises comply with regulations like SOX, HIPAA, and GDPR, while also helping to build a solid defense against ransomware and insider threats. Learn more at https://www.parablu.com.

About Mill Point Capital LLC
Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the Business Services, Industrials and IT Services sectors throughout North America. Mill Point’s experienced team of investors and Executive Partners seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.