Commvault has announced its acquisition of Clumio for $47 million, a move that seeks to strengthen the company's cloud data protection capabilities, specifically for Amazon S3 workloads, TechTarget reports.
Clumio specializes in cloud backup and recovery services for Amazon S3 object storage workloads. The acquisition reflects Commvault's cognizance of the increasing enterprise demand for effective cloud backup solutions amidst the growing importance of AI and unstructured data management. By acquiring Clumio, Commvault can integrate its advanced cloud backup services rapidly, bypassing the lengthy process of developing similar functionalities in-house. Analysts highlight that this acquisition not only enhances Commvault's product offerings but also simplifies operations for its clients. This marks Commvault's second acquisition within six months, reinforcing its commitment to expanding its portfolio and staying competitive in the evolving data protection market. The acquisition is expected to close soon and aligns with a broader trend in the cloud backup industry, which is projected to see substantial growth in the coming years.
