Commvault has announced plans to acquire Clumio, a California-based tech firm specialising in data protection for AWS.
The acquisition is expected to have no material impact on Nasdaq-listed Commvault's earnings and will be funded with cash on hand, the company said.
However, US tech media outlets, including CRN, have reported the deal is worth approximately $47 million—a fraction of the $261 million Clumio has raised since its founding in 2017.
Commvault specialises in cloud data protection and recovery, offering its clients 'cyber resilience'. This is its second cloud-related acquisition this year, following the April buyout of Appranix, which provides resilience and disaster recovery for cloud-native applications.
Clumio offers targeted data recovery functionality for AWS, such as S3 Direct Access, which allows users to continue using read-only backups of data sets while actual recovery occurs in the background. It has also provided support for Microsoft 365 since 2020. Its clients include Atlassian, Cox Automotive, Duolingo, and LexisNexis.
Commvault said more organisations are relying on Amazon S3 for storage, including for AI development in the cloud. Clumio’s air-gapped SaaS backup solution is a key offering, providing ransomware protection, quick data recovery, and improved visibility for optimising cloud storage costs.
Sanjay Mirchandani, Commvault CEO, said: “In the event of an outage or cyber attack, rapidly getting back to business is paramount to our customers. We have chosen to acquire Clumio as we’ve been protecting data across all major clouds for years, and Clumio enables us to take what we’ve been doing with AWS to an entirely new level.”
The acquisition is expected to close in early October 2024. Clumio co-founders Poojan Kumar and Woon Jung are joining Commvault, though their roles will be finalised later.
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