Commvault 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.
The company notes a Gartner forecast that by 2023, SDS instantiations of vendor storage OSs running in the cloud will become the dominant method of building multi cloud storage infrastructures.
“Joining Hedvig’s innovative software defined storage capabilities with Commvault’s industry leading data protection reduces fragmentation and leapfrogs other solutions in the market,” said Sanjay Mirchandani, CEO of Commvault.
Hedvig CEO Avinash Lakshman said that being completely software-based, the Hedvig platform can span multiple data centres across multiple physical geographies including disparate cloud environments.
The proposed acquisition is expected to close in Commvault’s fiscal third quarter, subject to certain closing conditions.
“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,” Mirchandani added.