Data protection and recovery company Commvault is considering a sale after receiving multiple acquisition proposals, Reuters reported on April 14, citing sources.
Commvault has hired Goldman Sachs as adviser and is reviewing its options. Private equity firms and strategic investors have shown interest, and private equity firm Thoma Bravo is known to have already made an acquisition proposal. Thoma Bravo owns a number of IT companies including Proofpoint, Sophos and Qlik.
The timing and size of the proposals were not disclosed. Commvault has a market value of about $3.5 billion.
Commvault shares hit a record high on Sept. 18 last year but have since fallen about 60 percent. Concerns that AI could disrupt software companies' business models also weighed. Performance has been solid. Revenue in the most recent quarter rose 19 percent from a year earlier to a record $314 million.
Commvault provides data protection and recovery solutions for enterprise environments and cloud providers in the event of cyberattacks, ransomware and system outages. It counts 3M, Sony and Hilton among its customers.
Chi-gyu Hwang
delight@d-today.co.kr