Commvault, a leading provider of cyber resilience and data protection solutions for the hybrid cloud, has announced its acquisition of Clumio, a technology leader in data protection for critical cloud data in AWS. The transaction is expected to close in early October 2024 and will be immediately accretive to ARR and revenue, and accretive to free cash flow within the next three quarters.
Clumio serves a wide range of customers including Atlassian, Cox Automotive, Duolingo, and LexisNexis, and has brought groundbreaking innovations to market, including technologies that enable customers to have near-instant access to their Amazon S3 data during a time-critical recovery operation.
Commvault CEO Sanjay Mirchandani highlighted the importance of rapidly getting back to business in the event of an outage or cyberattack, emphasizing the combination of Commvault’s industry-leading cyber resilience capabilities with Clumio’s exceptional talent, technology, and AWS expertise.
The acquisition is expected to strengthen Commvault's platform and reinforce its position as a leading SaaS provider for cyber resilience. The purchase price is not material to Commvault and will be funded with cash on hand.
Commvault has reiterated its fiscal second quarter 2025 earnings guidance previously announced on July 30, 2024. The company's stock trades on the NASDAQ under the symbol CVLT and is known for providing cyber resilience solutions to over 100,000 organizations. Today the company's shares have moved -0.4% to a price of $151.76. For more information, read the company's full 8-K submission here.
