Commvault, a leading provider of software for the management of data across cloud and on-premises environments, has announced that it has entered into a definitive agreement to acquire software-defined storage (SDS) innovator Hedvig for total consideration of US$225 million, which includes the purchase price and ongoing employee retention.
Gartner expects that, by 2023, SDS instantiations of vendor storage OSs running in the cloud will become the dominant method of building multi cloud storage infrastructures.
This move to cloud and multi cloud environments, together with cloud native applications is driving competitive advantage for companies of all sizes; yet the acceleration of data fragmentation is negatively impacting business outcomes. This rapid data growth, generated from a variety of sources stored both within on-premises environments and in the cloud, will continue to create significant governance, security and management challenges.
“Multi cloud data management is a hard problem for customers to solve, and that translates to value,” said Crawford Del Prete, President, IDC.
“Commvault’s acquisition of Hedvig is an astute strategic move that allows Commvault to differentiate and enhance its offerings – which broadens its addressable market. We believe this increases the value Commvault can bring to these increasingly complex customer problems.”
Sanjay Mirchandani, Commvault CEO, added: “This acquisition demonstrates how Commvault is leading the way towards the intersection of storage and data management.
“We believe joining Hedvig’s innovative software-defined storage capabilities with Commvault’s industry-leading data protection reduces fragmentation and leapfrogs other solutions in the market.”