Commvault to acquire Hedvig
By MYBRANDBOOK
Commvault has announced of entering into a definitive agreement to acquire software-defined storage (SDS) innovator, Hedvig, for a total consideration of $225 million, which includes the purchase price and ongoing employee retention.
This move to cloud, and multi cloud environments, together with cloud native applications is driving competitive advantage for companies for 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.
Crawford Del Prete, President, IDC, says, “Multi cloud data management is a hard problem for customers to solve, and that translates to value. 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.”
According to Sanjay Mirchandani, Commvault CEO, “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.”
For years, Commvault has evolved its portfolio to focus on helping thousands of long-standing customers of all sizes globally protect, manage and use their data more effectively. This is demonstrated by the 600+PB of data managed by Commvault software in the cloud.
Hedvig drives significant operational efficiency, addresses the data sovereignty problems stemming from data governance laws, and enables hybrid-cloud and multi-cloud capabilities natively. Operational efficiency is achieved via complete protocol consolidation (block, file, and object storage) on a single platform.
Avinash Lakshman, Hedvig CEO, comments, “Being completely software based, the Hedvig platform can span multiple data centers across multiple physical geographies including disparate cloud environments. This may be the most comprehensive solution ever unleashed into enterprise data centers and public cloud environments.”
Hedvig was founded in 2012 by Avinash Lakshman, the inventor of Apache Cassandra and one of the inventors of Amazon Dynamo. The proposed acquisition is expected to close in Commvault’s fiscal third quarter, subject to certain closing conditions. The transaction is expected to be slightly dilutive to Commvault’s FY’20 non-GAAP EPS and accretive to FY’21 non-GAAP EPS.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
DATA SAFEGUARD INDIA PRIVATE LIMITED
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
NETWEB TECHNOLOGIES INDIA LTD.
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
Icons Of India : MUKESH D. AMBANI
Mukesh Dhirubhai Ambani is an Indian businessman and the chairman and ...
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...