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CommVault Systems ( (CVLT) ) has shared an update.
Commvault Systems, Inc. has announced its acquisition of Clumio, a leader in data protection for AWS, for $47 million, enhancing its cyber resilience capabilities for cloud-first organizations. The deal, expected to close in early October 2024, will strengthen Commvault’s SaaS offerings for rapid recovery and data security at a global scale. This strategic move is set to be immediately beneficial to Commvault’s annual recurring revenue and free cash flow within three quarters.
Learn more about CVLT stock on TipRanks’ Stock Analysis page.
