Cyber resilience and data protection firm Commvault has acquired Clumio for an undisclosed sum.
This is technology M&A deal number 213 that ChannelE2E and MSSP Alert have covered so far in 2024. See more than 2,000 technology M&A deals for 2024, 2023, 2022, 2021, and 2020 listed here.
The acquisition of Clumio, which provides protection for cloud data in AWS, will bolster Commvault’s AWS offerings, particularly around Amazon S3 and DynamoDB, which are critical in the AI-driven landscape, according to Alan Atkinson, chief partner officer at Commvault.
“Their innovative cloud-native technology fits perfectly with our SaaS offerings, and their expertise will help us strengthen our position as the leader in cloud data protection and cyber resilience," Atkinson explained to ChannelE2E.
Increased Demand for AI Workloads
This increased demand for AI workloads on AWS is what attracted Commvault to the deal, according to Atkinson.
“Clumio’s technology allows us to deepen our AWS offerings, making data almost instantly recoverable, which is crucial for ensuring cyber resilience in this evolving cloud landscape,” he said. “This acquisition is perfectly timed to meet the growing needs of our customers in protecting these critical workloads."
While Atkinson would not disclose specific headcount information for either company, he did say that Commvault is bringing on a “significant portion of Clumio’s engineering talent.” Clumio currently has 201 employees listed on LinkedIn, while Commvault lists 3,370.
Clumio co-founders Poojan Kumar and Woon Jung will also come aboard to “drive innovation in cyber resilience and cloud-first data protection. However, due to some redundancies in areas like GTM and general administration, not all employees will be transitioning to Commvault," Atkinson said.
Commvault previously acquired Appranix, a cloud cyber resilience company, in April 2024.
Cloud-First and Hybrid-First Future
Looking ahead, Atkinson says Commvault will continue to invest in cloud-first and hybrid cloud initiatives.
“We will also continue to provide solutions that help customers address compliance regulations that taking effect globally,” he explained. “We will be sharing much more on new cloud-first innovations at our Shift conference in less than two weeks. To register for that, visit here."
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 company said in a prepared statement.
