Deals

Commvault to Buy Hedvig for $225 Million to Jumpstart Growth

Deal slightly dilutive to 2020 EPS, accretive in fiscal 2021
Hedvig raised more than $50 million from investors like HPE

Hedvig Acquisition Is All About Getting Back to Growth, Commvault CEO Says

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By Nico Grant and Liana Baker

September 4, 2019 at 7:00 AM UTC

This article is for subscribers only.

Commvault Systems Inc. plans to buy startup Hedvig Inc. in a bid to bolster the software maker’s capabilities in the competitive data-storage market.

Commvault Chief Executive Officer Sanjay Mirchandani told Bloomberg in an interview that his company will buy Hedvig for $225 million in cash and stock. The purchase price covers the cost of retaining Hedvig employees.