Commvault to buy VC-backed Hedvig for $225 mln
Summary
Tinton Falls, N.J. – September 4, 2019 – Commvault (NASDAQ: CVLT), a leading provider of software for the management of data across cloud and on-premises environments, today announced that it has entered into a definitive agreement to acquire software-defined storage (SDS) innovator, Hedvig, for total consideration of $225 million, which includes the purchase price and ongoing employee retention. 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. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. The Hedvig Distributed Storage Platform is designed to standardize primary and secondary workloads, thereby driving significant operational efficiency. Hedvig’s patented technology forms a distributed, scale-out cluster that transforms commodity servers or cloud computing into a flexible foundation for bare metal, hypervisor and container infrastructure.
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