Commvault, a leading provider of cyber resilience and data protection solutions for the hybrid cloud, has announced the acquisition of Clumio, a technology company specialized in protecting critical data on Amazon Web Services (AWS).
This transaction will allow Commvault to leverage Clumio’s offerings on AWS to provide cyber resilience to next-generation applications built on this platform. Clumio has a wide range of clients, including Atlassian, Cox Automotive, Duolingo, and LexisNexis.
More and more organizations are relying on Amazon S3 as their default storage solution, especially for cloud-based artificial intelligence development. Clumio has introduced pioneering innovations in this area, including technologies that allow customers to have almost instant access to their Amazon S3 data during critical recovery operations.
“In the event of a disruption or cyber-attack, quickly recovering operations is crucial for our customers,” said Sanjay Mirchandani, CEO of Commvault. “The combination of Commvault’s leading cyber resilience capabilities with Clumio’s exceptional talent, technology, and AWS expertise enhances our recovery offerings, strengthens our platform, and reinforces our position as a leading SaaS provider for cyber resilience.”
Meanwhile, Poojan Kumar, co-founder of Clumio, commented: “At Clumio, our vision was to build a platform that could rapidly scale to protect the world’s largest and most complex data sets, including data lakes, warehouses, and other critical business data. Joining forces with Commvault allows us to bring our cloud-native solutions to AWS customers on a global scale.”
The asset acquisition is expected to close in early October 2024 and be immediately accretive to annual recurring revenue (ARR) and revenue, as well as contribute to free cash flow within the next three quarters. The purchase price is not significant for Commvault and will be financed with available cash. Commvault reiterates earnings forecasts for the second fiscal quarter of 2025 announced previously on July 30, 2024.
BofA Securities acted as financial advisor and Hogan Lovells LLP as legal advisor to Commvault in connection with the transaction.
About Commvault
Commvault (NASDAQ: CVLT) is the gold standard in cyber resilience, helping over 100,000 organizations keep their data secure and their businesses resilient and advancing. Currently, Commvault offers the only cyber resilience platform that combines best-in-class data security and quick recovery at enterprise scale for any workload and anywhere, at the lowest total cost of ownership.
About Clumio
Clumio helps organizations simplify data protection on AWS. Its secure and isolated SaaS backup solution enables organizations to achieve ransomware protection, backup and restore data in minutes, and gain better visibility to optimize cloud storage costs.