Commvault acquires tech startup Hedvig for $225 million
Hedvig was founded in 2012 by Avinash Lakshman and Srinivas Lakshman. It had raised $52 million in funding and provides enterprise software in the cloud space.
Commvault, Nasdaq-listed tech company which provides software for the management of data across cloud and on-premises environments, has announced the acquisition of US-based startup Hedvig for $225 million.
Hedvig was founded in 2012 by Avinash Lakshman and Srinivas Lakshman and had raised $52 million in funding with participation from investors such as Vertex Ventures and Hewlett Packard Pathfinder. It provides enterprise software for the cloud segment.
Commenting on the acquisition, Commvault CEO Sanjay Mirchandani said, “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.”
Gartner expects that by 2023, software-defined storage (SDS) instantiations of vendor storage OSs running in the cloud will become the dominant method of building multi-cloud storage infrastructures.
This rapid data growth, generated from a variety of sources stored both on-premises environments and in the cloud will continue to create significant governance, security, and management challenges.
“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,” said Crawford Del Prete, President, IDC.
“Being completely software based, the Hedvig platform can span multiple data centers across multiple physical geographies, including disparate cloud environments,” according to Avinash Lakshman, Hedvig CEO.
“This may be the most comprehensive solution ever unleashed into enterprise data centers and public cloud environments,” claimed Avinash.
According to Commvault, Hedvig’s technology is in its prime which has been market tested and proven. It also said the convergence both the companies technologies will set the new standard on storage and data management.
