TINTON FALLS, N.J. - Commvault (NASDAQ: CVLT), a global provider of data protection and cyber resilience solutions, announced today the acquisition of Appranix, a company specializing in cloud cyber resilience. The move aims to enhance enterprise capabilities to rapidly rebuild cloud applications following outages or cyberattacks.
In light of statistics from Statista indicating an average downtime of 24 days after a ransomware attack, Commvault's acquisition is set to address the critical need for faster recovery times. Appranix's technology automates the restoration of cloud applications, including complex dependencies like DNS configurations, security access, and load balancing, potentially reducing rebuild times from weeks to mere hours or minutes.
Commvault's President & CEO, Sanjay Mirchandani, emphasized the strategic value of the acquisition, stating, "We are taking resilience to the next level by marrying Commvault's extensive risk, readiness, and recovery capabilities with Appranix's next-generation cloud-native rebuild capabilities." Govind Rangasamy, Appranix Founder and CEO, echoed this sentiment, highlighting the shared vision to advance beyond traditional backups and disaster recovery.
Industry experts view this acquisition as a significant step towards achieving complete cyber resilience for enterprise customers. Archana Venkatraman, Research Director at IDC, noted that the combined technologies of Commvault and Appranix will deliver comprehensive resilience capabilities, particularly for distributed and dynamic cloud applications.
The integration of Appranix's technology into Commvault's product suite is expected to be completed by the summer of 2024. Until then, customers can access Appranix's cloud application discovery and rebuild services through marketplaces for AWS, Google (NASDAQ:GOOGL) Cloud, and Microsoft (NASDAQ:MSFT) Azure.
Commvault, recognized as a leader in the cyber resilience space, serves over 100,000 organizations worldwide. The company's cyber resilience platform provides data security and rapid recovery across various workloads. Appranix brings to the table an innovative approach to cloud-native cyber resilience, with a focus on rapid recovery and business continuity against modern cyber threats.
The financial terms of the acquisition were not disclosed. This strategic move is advised by Hogan & Lovell LLP.
The information reported is based on a press release statement.
InvestingPro Insights
As Commvault (NASDAQ: CVLT) embarks on its strategic acquisition of Appranix, it's important to consider the company's financial health and market performance to understand the broader context of this move. Commvault has been making significant strides, as reflected in its recent financial metrics and market data from InvestingPro.
With a robust market capitalization of $4.12 billion, Commvault stands as a substantial player in the data protection and cyber resilience arena. The company's dedication to growth and efficiency is evident in its impressive gross profit margin of 82.03% for the last twelve months as of Q3 2024, showcasing its ability to manage costs effectively while scaling its operations. Moreover, the company's revenue has seen a growth of 4.11% over the same period, indicating a steady upward trajectory in its financial performance.
InvestingPro Tips highlight that Commvault's management has been actively buying back shares, signaling confidence in the company's future. Additionally, the company holds more cash than debt on its balance sheet, providing it with a solid foundation to navigate market fluctuations and invest in strategic initiatives like the Appranix acquisition. For investors and analysts looking for more detailed insights, there are 15 additional InvestingPro Tips available, which can be accessed through the dedicated Commvault page on InvestingPro.
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As Commvault continues to innovate in cyber resilience, these financial indicators and expert insights from InvestingPro provide a valuable lens through which to view the company's market position and strategic direction.
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