Data management software producer Commvault agreed yesterday to acquire US-based software-defined storage (SDS) technology developer Hedvig in a $225m deal that will allow enterprise technology provider Hewlett Packard Enterprise (HPE) to exit.
Founded in 2012, Hedvig has created a software platform called Hedvig Distributed Storage Platform, which provides SDS for organisations developing their own private, hybrid or multi cloud environments. The product can work across multiple data centres around the world.
The acquisition price includes costs associated with employee retention, according to Commvault. It expects Hedvig’s technology to broaden the storage side of its data backup and recovery business.
Sanjay Mirchandani, chief executive of Commvault, 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.”
Hedvig had raised $52m pre-acquisition, most recently capturing $21.5m in an early 2017 series C round backed by HPE, Vertex Ventures, True Ventures, the Singapore state-owned EDBI and the government-owned Oman Technology Fund.
Vertex Ventures and True Ventures participated in the 2017 round as existing investors. The company’s earlier backers also include Atlantic Bridge and Redpoint Ventures.
