Commvault, a leader in cyber resilience and data protection, announced its plan to acquire Clumio, a prominent provider of data protection solutions for AWS cloud environments. The acquisition will enable Commvault to enhance its offerings for next-generation applications built on AWS, catering to customers like Atlassian, Duolingo, Cox Automotive, and LexisNexis.
Clumio has pioneered innovations in data recovery, including near-instant access to Amazon S3 data, a critical feature for time-sensitive operations. This capability aligns with the increasing reliance on Amazon S3 for cloud storage, particularly for AI development. Commvault aims to integrate Clumio’s expertise to bolster its position as a leading SaaS provider in cyber resilience.
Commvault CEO Sanjay Mirchandani highlighted the importance of rapid recovery during outages or cyberattacks, emphasizing that the acquisition strengthens the company’s platform and global offerings. Clumio co-founder Poojan Kumar expressed enthusiasm for scaling the company’s cloud-native solutions to AWS customers worldwide, leveraging Commvault’s resources and reach.
The acquisition is set to close by October 2024, with immediate positive impacts on annual recurring revenue and cash flow within three quarters. Funded with cash on hand, the deal is not considered material to Commvault’s financials. BofA Securities and Hogan Lovells LLP advised Commvault on the transaction.
Reference:
