Digital Newsletter
Each week our editor Phil Alsop rounds up the most popular articles, videos and expert opinions. We compile this into a Digital Newsletter and send it straight to your inbox every week.
Digital Magazines
We'll let you know each time a new edition of Digitalisation World is released so that you're always kept up-to-date with the latest and greatest news and press releases.
Video Magazines
The Digitalisation World Video magazine contains the latest Zoom interviews with experts in the industry.
Commvault is to 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 organisations 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.
