secwatch.observer — SEC 8-K summary
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Issuer:     COMMVAULT SYSTEMS INC (CVLT)
CIK:        0001169561
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001169561-24-000125
Event type: m_and_a
Sentiment:  positive
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Commvault to acquire Clumio for approximately $47 million
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- Acquisition of Clumio, a cloud backup provider, for ~$47M subject to customary adjustments.
- Expected to enhance Commvault's SaaS data protection offerings and cloud-native capabilities.
- Transaction is expected to close in Q4 of calendar 2024, pending regulatory approvals and conditions.
- Commvault expects the acquisition to be modestly accretive to revenue growth in FY2026.
- Funding to be from existing cash and credit facilities; no material impact to share repurchase plans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1169561/000116956124000125/0001169561-24-000125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1169561/000116956124000125/cvlt-20240924.htm
  HTML page:      https://secwatch.observer/filing/0001169561-24-000125

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