New Jersey-based information technology company Commvault Systems has acquired California-based software storage solutions company Hedvig in a deal worth $225 million.
The deal valuation includes the purchase price and costs incurred for employee retention, said a statement issued by Commvault.
The move comes at a time when the adoption of cloud environments and cloud-native applications are picking pace. The rapid growth of data over the cloud has created governance, security and management challenges, the statement said.
Hedvig’s software solutions help address data sovereignty problems and allow hybrid and multi-cloud operations to be run natively. The solutions also reportedly make operations efficient by streamlining processes on a single platform.
“Hedvig’s technology is in its prime. It has been market tested and proven. We believe that the convergence of storage, multi-cloud and cloud native technologies, combined with our leadership in data management, will accelerate the movement towards modern applications built on containers and microservices. Commvault will set the bar for the unification of storage and data management for the future,” said Sanjay Mirchandani, chief executive officer, Commvault Systems.
Hedvig was founded in 2012 by Avinash Lakshman, a former software engineer at Facebook. The startup provides software-defined storage solutions for enterprises building private, hybrid and multi-cloud environments. Hedvig claims that its services help reduce enterprise storage costs while boosting migration capabilities to the cloud.
Commvault Systems was formed in 1988 as a development group within the industrial research company Bell Labs. It later went on to be designated as a strategic business unit of telecommunications equipment manufacturer AT&T Network Systems.
The company counts Cisco Systems, Amazon Web Services and Hewlett Packard Enterprises as its partners to deliver data backup and recovery solutions. It operates in cities such as New Jersey, Bengaluru, New Delhi and Mumbai among others.
Recent developments in the cloud computing sector
Earlier this week, chipmaker Nvidia and software solutions company VMWare announced that they would develop graphics processing unit services on the Amazon Web Services cloud platform.
Last month, Microsoft’s India arm launched a national programme, the Digital Governance Tech Tour, to train government officials in artificial intelligence and cloud computing skills.
IT services firm Mphasis signed a multi-year deal to manage the cloud infrastructure for UK insurance firm The Ardonagh Group.