Commvault provides cloud-first organizations
with greater choice and flexibility to protect and recover data and
cloud-native applications in a multi-cloud era
TINTON
FALLS, N.J., Sept. 24,
2024 /PRNewswire/ -- Commvault, a leading provider of
cyber resilience and data protection solutions for the hybrid
cloud, announced it will acquire Clumio, a technology leader in
data protection for critical cloud data in AWS.
This transaction enables Commvault to leverage Clumio's AWS
offerings to provide cyber resilience to next generation
applications built on AWS. Clumio serves a wide range of customers
including Atlassian, Cox Automotive, Duolingo, and LexisNexis.
More and more organizations are relying on Amazon S3 as their de
facto storage offering, including for AI development in the cloud.
Clumio has brought groundbreaking innovations to market in this
area, including technologies that enable customers to have
near-instant access to their Amazon S3 data during a time-critical
recovery operation.
"In the event of an outage or cyberattack, rapidly getting back
to business is paramount to our customers," said Commvault CEO
Sanjay Mirchandani. "Combining
Commvault's industry-leading cyber resilience capabilities with
Clumio's exceptional talent, technology, and AWS expertise advances
our recovery offerings, strengthens our platform, and reinforces
our position as a leading SaaS provider for cyber resilience."
"At Clumio, our vision was to build a platform that could scale
quickly to protect the world's largest and most complex data sets,
including data lakes, warehouses, and other business-critical
data," said Poojan Kumar, co-founder of Clumio. "Joining hands with
Commvault allows us to get our cloud-native offerings to AWS
customers on a global scale."
The asset acquisition is expected to close in early October 2024, and be immediately accretive to ARR
and revenue, and accretive to free cash flow within the next three
quarters. The purchase price is not material to Commvault and will
be funded with cash on hand. Commvault reiterates the fiscal second
quarter 2025 earnings guidance previously announced on July 30, 2024.
BofA Securities served as a financial advisor and Hogan Lovells
LLP served as legal counsel to Commvault in connection with the
transaction.
About Commvault
Commvault (NASDAQ: CVLT) is the gold
standard in cyber resilience, helping more than 100,000
organizations keep data safe and businesses resilient and moving
forward. Today, Commvault offers the only cyber resilience platform
that combines the best data security and rapid recovery at
enterprise scale across any workload, anywhere—at the lowest
TCO.
About Clumio
Clumio helps organizations simplify data
protection in AWS. Its secure air-gapped SaaS backup solution
enables organizations to achieve ransomware protection, backup and
restore data in minutes, and gain better visibility to optimize
cloud storage costs.
Safe Harbor Statement
This press release contains
forward-looking statements, including statements regarding the
expected benefits of the acquisition and financial projections,
which are subject to risks and uncertainties. For a discussion of
these and other risks and uncertainties affecting Commvault's
business, see "Item 1A. Risk Factors" in our annual report on Form
10-K and "Item 1A. Risk Factors" in our most recent quarterly
report on Form 10-Q. Statements regarding Commvault's beliefs,
plans, expectations or intentions regarding the future are
forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from anticipated results.
Commvault does not undertake to update its forward-looking
statements.
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SOURCE COMMVAULT
