Store the complete backup directly to a single file:
innobackupex --stream=xbstream /root/backup/ > /root/backup/backup.xbstream
To stream and compress the backup:
innobackupex --stream=xbstream --compress /root/backup/ > /root/backup/backup.xbstream
To unpack the backup to the /root/backup/ directory:
xbstream -x < backup.xbstream -C /root/backup/
To send the compressed backup to another host and unpack it:
innobackupex --compress --stream=xbstream /root/backup/ | ssh user@otherhost "xbstream -x -C /root/backup/"