Tinton Falls,
N.J. – June 30, 2020 – Commvault (NASDAQ:
CVLT), a recognized global enterprise software leader in the management of data
across cloud and on-premises environments, today announced that it has entered
into a multi-year agreement with Microsoft that tightly integrates go-to-market,
engineering and sales of Commvault’s Metallic Software-as-a-Service (SaaS) data
protection portfolio with Microsoft Azure – delivering ultimate scale and
trusted security with simple SaaS management.
Commvault and
Microsoft are bringing together two technologies – Azure and Metallic
SaaS – to meet the need for proven data protection backed by powerful
scale and multi-layered security. Metallic enhances protection of
Microsoft Office 365 data in the case of accidental deletion, corruption and
malicious attacks. Metallic also offers a range of additional options from
VMware and Microsoft SQL database backup to Endpoint protection.
“Today’s announcement combines two of the
best enterprise cloud technologies to simplify and accelerate a customer’s
journey to the cloud,” said Sanjay Mirchandani, President and CEO, Commvault.
“This is a new era for Commvault and our direction is clear – help our joint
channel partners and customers simplify IT with enterprise-class, proven data
protection solutions delivered through SaaS and protected in the cloud. The
combination of Commvault and Microsoft truly brings together the most
innovative data protection and cloud technologies the two companies have to
offer.”
This new phase of the collaboration builds on Commvault’s longstanding
use of Azure capabilities including application and data migration, long-term
retention and Azure Blob Storage for its scale, durability and security. The
new agreement includes plans to build a SaaS offering of Metallic Cloud Storage
on Azure Blob Storage and other deep product integrations with native Azure
services.
“Commvault
and Microsoft have always delivered trusted technologies to our joint
customers, and today’s announcement takes our longstanding relationship to the
next level at a critical time for companies to adopt cloud and SaaS
technologies,” said Tad Brockway, Corporate Vice President Azure Storage. “Metallic
SaaS with Microsoft Azure delivers one of the industry’s most powerful
solutions for storing and protecting business-critical data – in the cloud and
beyond.”
Ronald Dowden, IT Unit Director for Johns Hopkins
University, said: “It’s clear to me that Commvault and Microsoft are committed
to building increasingly-integrated solutions that meet the scale and scope of
my organization’s needs and requirements in a hybrid world. Their innovations
have helped us address the challenges of moving almost five petabytes of data
to the Azure cloud. We’ve reduced our data center footprint and storage
management overhead all while protecting thousands of virtual servers,
applications and projects across our institution. The agility, scalability
and simple management inherent to cloud and SaaS solutions are definitely
needed as the pace of data growth shows no signs of slowing.”
One of
Metallic’s strengths is that it was built in the cloud, using the best of
Azure’s native capabilities while leveraging Commvault’s market-leading enterprise
technology – the same technology stack that large enterprises have entrusted to
protect their mission-critical apps and data. As part of the agreement, Metallic will be a featured app for SaaS data protection in the Azure Marketplace for public cloud
and hybrid IT customers. Commvault will also continue to support choice for
customers who request alternative clouds based on business requirements.
Metallic™ Backup & Recovery for Office 365 is now
available on the Azure Marketplace.
About Metallic™
Metallic, A Commvault venture, was established to bring next-generation software-as-a-service (SaaS) data protection to the market, delivering Commvault’s powerful core technology simply through the cloud. Together with its partners, Metallic offers a growing portfolio of SaaS backup and recovery solutions to help today’s companies keep their data protected, compliant and safe from deletion, corruption and attack. Metallic operates as a division of Commvault and can be found at https://www.metallic.io/
About Commvault
Commvault believes in data readiness.Commvault helps
organizations of all sizes intelligently manage data through solutions that store,
protect, manage and use their most critical asset — their data. Commvault
software, solutions and services are available from the company and through a
global ecosystem of trusted partners. Commvault employs more than 2,300
highly-skilled individuals across markets worldwide, is publicly traded on
NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United
States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated
herein; Commvault does not guarantee that all customers can achieve benefits
similar to those stated above. This press release may contain forward-looking
statements, including statements regarding financial projections, which are
subject to risks and uncertainties, such as competitive factors, difficulties
and delays inherent in the development, manufacturing, marketing and sale of
software products and related services, general economic conditions and others.
Statements regarding Commvault’s beliefs, plans, expectations or intentions
regarding the future are forward-looking statements, within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. All such forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ materially
from anticipated results. Commvault does not undertake to update its
forward-looking statements. The development and timing of any product release
as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – June 24, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced it has been named the 2020 Momentum Storage Partner of the Year by Hewlett Packard Enterprise (HPE) during the HPE Partner Growth Summit Virtual Experience.
With the ability to simplify intelligent data protection, Commvault is being recognized for its outstanding performance, commitment to customer excellence, focus on growth and innovation, and professional achievements.
Together, Commvault and HPE deliver an integrated approach to backup, recovery, and data management centered around HPE’s storage and server portfolio. Specific offerings include enterprise backup recovery, scalability with HyperScale™ Technology, native cloud integration, HPE storage hardware snapshot integration and more. The tight integration of Commvault and HPE storage systems, especially for Hybrid Cloud environments, helps customers reduce risk and overhead while simplifying data management. Commvault is also part of the HPE Complete program, a seamless and secure way to purchase third-party software that is validated with HPE hardware, making it even easier for customers to reap the benefits of Commvault and HPE’s partnership.
“We are honored to be named HPE’s Momentum Storage Partner of the Year,” said Mercer Rowe, Vice President, Global Partner Organization, Commvault. “This award not only speaks to our commitment to HPE and our joint customers, but also showcases the strength and growth of our relationship. From a deep integration at the R&D level to a joint go-to-market strategy, together we solve our customers’ most complex data management issues.”
“I’m proud to recognize our channel partners who raise the standard of business excellence and demonstrate continued commitment to our joint customers,” said Paul Hunter, Senior Vice President of Worldwide Partner Sales, HPE. “HPE is dedicated to enabling our partners with tools and solutions that will spark innovation in their own business. By collaborating and growing together, we are able to deliver the outcomes our customers need to prosper.”
This is the second win for Commvault in HPE’s Partner of the Year Awards program. The company was named Technology Partner of the Year – Storage Solutions in 2019.
Commvault believes in data readiness.Commvault helps organizations of all sizes intelligently manage data through solutions that store, protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Independent
Directors with Experience in Cloud, Software and SaaS to Join Board
New Operating Committee to Oversee Budgeting Process and Establish Margin Targets and Balanced Capital Allocation Policy
Tinton Falls, N.J., June 8, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that it has entered into an agreement with Starboard Value LP and its affiliates (“Starboard”), an investment firm that owns approximately 9.3% of Commvault’s outstanding common stock.
As part of the agreement, three new independent directors, Todd Bradley, Allison Pickens and Arlen Shenkman, will join Commvault’s Board of Directors, effective June 7, 2020. In addition, the Board will create a new Operating Committee, which will oversee the Company’s budgeting process and work with management to establish margin targets and a balanced capital allocation policy for the Company, which the Company has agreed to announce publicly no later than the Company’s earnings announcement for the quarter ended Dec. 31, 2020. The Operating Committee will be comprised of Mr. Bradley, Mr. Charles Moran and Mr. Shenkman, with Mr. Shenkman serving as Chair.
“With
our industry-leading technology and commitment to innovation, Commvault has significant
opportunities for growth and value creation, particularly given the number of companies
moving to remote working environments. Today’s agreement reflects the Board and
leadership team’s commitment to realizing these opportunities and our alignment
with Starboard on additional directors and actions to support these efforts,”
said Nicholas Adamo, Chairman of the Commvault Board.
“We have been evolving the Board’s skill set with an emphasis on experience in software and cloud to advance our transformation. We are pleased to add three highly qualified directors who bring both targeted experience and diversity to the Board. We also expect the new Operating Committee to build on the progress Sanjay Mirchandani has made since being appointed CEO, including important changes to our operating priorities, improvements to our go-to-market strategy and investments in Commvault’s technology differentiation,” Adamo continued.
Jeff Smith, Chief Executive Officer of Starboard, said: “We appreciate the collaborative dialogue we have had with Commvault’s Board and leadership team. Commvault is an outstanding company. We believe the expertise provided by these new directors and the focus of the Board’s Operating Committee will help improve Commvault’s profitable growth, return on investment, and enhance value creation.”
In
connection with the agreement, Alan Bunte, Frank Fanzilli and Daniel Pulver will
be departing the Board.
Mr.
Adamo continued, “On behalf of the entire Board, I would like to thank Al, Frank
and Dan for their dedicated service and contributions to Commvault. We
appreciate their leadership, and we wish them the best.”
With the changes announced today, Commvault’s Board will be comprised of 11 directors, 10 of whom are independent, and Commvault will have added a diverse group of seven new independent directors since 2018.
Pursuant
to the agreement, Starboard agreed to withdraw its director nominations
previously submitted to the Company and support the Board’s full slate of
directors at the 2020 Annual Meeting. Starboard also agreed to abide by
customary standstill provisions and voting commitments. The complete agreement
will be filed by the Company with the U.S. Securities and Exchange Commission
(“SEC”) as an exhibit to the Current Report on Form 8-K.
Centerview Partners LLC is acting as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Commvault.
About Todd Bradley
Mr.
Bradley has significant leadership, finance, digital, marketing, technology and
software experience. He previously served as the Chairman and Chief Executive
Officer of Mozido, a cloud-based mobile payment provider, from October 2015 to
May 2017. Prior to that, Mr. Bradley served as the President of TIBCO Software
Inc., a provider of infrastructure and business intelligence software, from
June 2014 until it was acquired by Vista Equity Partners in December 2014. From
2005 to April 2014, Mr. Bradley served in a variety of roles at HP Inc. (“HP”),
a manufacturer of computers and printing products, along with related
technologies solutions and services, including most recently as Executive Vice
President, Strategic Growth Initiatives from June 2013 to April 2014. Earlier
in his career, Mr. Bradley served as President and CEO of Palm, Inc., a
personal digital assistant and smartphone manufacturer, which was later
acquired by HP.
Mr.
Bradley is currently a member of the Board of Directors of Eastman Kodak
Company and Mattel, Inc. Previously, he served as a member of the Board of TrueCar
Inc.
Mr.
Bradley holds a B.S. from Towson University.
About Allison Pickens
Allison
Pickens is a technology executive with significant experience driving growth
and strategic transformation initiatives at SaaS companies. Ms. Pickens most
recently served as Chief Operating Officer and previously held other executive
roles at Gainsight, a SaaS company, from 2014 to 2020. She is the co-author of
the book The Customer Success Economy, published by Wiley in spring 2020. Ms.
Pickens previously worked at Bain Capital Private Equity, where she evaluated
investments in a range of industries, and Boston Consulting Group, where she
was a management consultant to both public and private companies.
Ms.
Pickens is a member of the Board of Directors of Rainforest QA, a
venture-backed SaaS company, and is a member of the Technology Advisory Network
at Boston Consulting Group, where she advises on strategic transformations of
technology companies. She also has served as an Executive-in-Residence at
Bessemer Venture Partners, advising portfolio companies on how to grow and
retain subscription revenue. Previously she served as a member of the Board of
eCompliance, a privately-funded SaaS company, until its successful acquisition
by Alcumus.
Ms. Pickens has an MBA from the Stanford University Graduate School of Business and a B.A. from Yale University.
About Arlen Shenkman
Mr.
Shenkman has substantial experience helping to lead large-scale business
transformations for growth of SaaS and working with companies that specialize
in complex-cloud environments and enterprise application software. He is
currently Executive Vice President and Chief Financial Officer at Citrix
Systems, Inc., where he is responsible for all of the company’s financial and
capital management strategies, budgeting and planning, financial accounting,
tax and treasury, investor relations, strategic alliances, and M&A. He joined
Citrix in September 2019 from SAP, where he most recently served as Executive
Vice President and Global Head of Business Development and Ecosystems. Prior to
that role, Mr. Shenkman served as Chief Financial Officer of SAP North America,
the company’s largest business unit. Mr. Shenkman previously served as Global
Head of Corporate Development for SAP and was a principal architect of SAP’s
rapid transformation into a cloud company.
Mr.
Shenkman has a J.D. from the University of Miami School of Law, an M.B.A. from
the Fox School of Business at Temple University, and a bachelor’s degree in
political science from George Washington University.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,500 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
About Starboard
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard seeks to invest in deeply undervalued companies and actively engage with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Safe Harbor Statement
This
document may contain forward-looking statements, including statements regarding
financial projections, which are subject to risks and uncertainties, such as
competitive factors, difficulties and delays inherent in the development,
manufacturing, marketing and sale of software products and related services,
general economic conditions, outcome of litigation and others. For a discussion
of these and other risks and uncertainties affecting Commvault’s business, see
Commvault’s filings with the SEC, including those discussed in Commvault’s most
recent Annual Report on Form 10-K and in any subsequent periodic reports on
Form 10-Q and Form 8-K, each of which is on file with the SEC and available at
the SEC’s website at www.sec.gov. Statements regarding Commvault’s beliefs,
plans, expectations or intentions regarding the future are forward-looking
statements, within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as amended. All
such forward-looking statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Actual results may
differ materially from anticipated results. Commvault does not undertake to
update its forward-looking statements.
The development and timing of any product release as well as any of its
features or functionality remain at our sole discretion.
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– 11 Global Executives Recognized for their Impact on the Channel –
Tinton Falls, N.J. – May 14, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, announced today that CRN® a brand of The Channel Company, has named 11 of its global leaders to its esteemed 2020 Women of the Channel list.
Recognizing the unique strengths, vision and achievements of a select group of women, this prestigious, annual list acknowledges channel leaders who are blazing a trail for future generations. These women are from all areas of the IT ecosystem, including technology vendors, distributors, solution providers and other IT organizations.
From marketing and sales to operations and customer service, each of Commvault’s honorees hold positions that play an important role in advancing the company’s channel footprint. The 2020 recipients include:
Heidi Biggar, Director, Worldwide Partner and Sales Enablement
Sarah Chaseling, Senior Manager, Partner & Alliance Marketing APJ
Lisa Critchlow, Director, Worldwide Partner Marketing Programs
Angharad Davies, Director, Channel Marketing EMEA
Angelina Gambina, Global Channel Sales Lead, Emerging Technologies
Janet Giesen, Vice President of Operations and Programming, Metallic
LouLou Healey, Senior Director & Head of Americas Field, Channel and Alliances Marketing
In addition to the Women of the Channel list, for the second year in a row, Scarborough has also been named to CRN’s Power 100, a distinctive honor that spotlights female executives whose insight and influence help drive channel success.
“We are extremely proud that so many members of our team have been recognized for the talent, perseverance and knowledge that they bring to Commvault’s partnerships,” said Mercer Rowe, Vice President of the Global Partner Organization, Commvault. “Having a strong channel presence is crucial to our company’s success, and something that every member of our team works toward. With the help of these talented individuals, we have been able to continue growing our channel and delivering award-winning data management solutions to companies around the world.”
In the selection process for CRN’s Women of the Channel list, the outlet’s editorial team is tasked with honoring exceptional women for their contributions to channel advocacy, growth, thought leadership and dedication to the IT channel.
“CRN’s 2020 Women of the Channel list recognizes an accomplished group of influential women leaders whose strategic vision and unique achievements accelerate channel growth through cultivated partnerships, innovative thought leadership, and unwavering dedication to the IT channel,” said Bob Skelley, CEO, The Channel Company. “We are proud to honor them for their accomplishments and contributions to driving channel success.”
About Commvault
Commvault believes in
data readiness.Commvault helps organizations of all sizes intelligently
manage data through solutions that store, protect, manage and use their most
critical asset — their data. Commvault software, solutions and services are
available from the company and through a global ecosystem of trusted partners.
Commvault employs more than 2,300 highly-skilled individuals across markets
worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton
Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
About The Channel
Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers, and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. https://www.thechannelco.com/
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – May 12, 2020 – Commvault [NASDAQ: CVLT] today announced its financial results for the fourth quarter and fiscal year ended March 31, 2020.
“We remain focused on keeping our employees safe while supporting customers during these challenging times,” said Commvault President and CEO Sanjay Mirchandani. “Like most, our quarterly results were impacted by the pandemic. However, we are confident in the long-term opportunities for the company, our strategy and our return to profitable growth. Our products are mission critical; our large enterprise customer base remains strong; and our employees are resilient. All of this, when combined with our financial stability, will enable us to weather these challenges and continue to deliver industry-leading solutions to our customers.”
Total
revenues for the fourth quarter of fiscal 2020 were $164.7 million, a decrease
of 9% year-over-year and 7% sequentially.
Software and products revenue in the fourth quarter of fiscal 2020 was
$66.4 million, a decrease of 18% year-over-year and 13% sequentially. Software
and products revenue excludes approximately $10.0 million of completed
subscription renewals that will be recognized in the first quarter of fiscal
2021, when the current subscriptions are due to expire. Services revenue in the
fourth quarter of fiscal 2020 was $98.3 million, a decrease of 2%
year-over-year and 1% sequentially.
For the full fiscal year, total revenues were
$670.9 million, a decrease of 6% from fiscal 2019. Software and products
revenue for the full fiscal year was $275.3 million, a decrease of 11% from
fiscal 2019. Services revenue for the full fiscal year was $395.6 million, a
decrease of 1% from fiscal 2019.
On a GAAP
basis, loss from operations (EBIT) was $2.2 million for the fourth quarter
compared to income of $0.3 million in the same period of the prior year.
Non-GAAP income from operations (EBIT) was $18.3 million in the fourth quarter
of fiscal 2020 compared to $30.9 million in the fourth quarter of the prior
year.
On a GAAP basis, loss from operations (EBIT) for
the full fiscal year was $17.5 million. Non-GAAP income from operations (EBIT)
was $87.5 million in fiscal 2020 compared to $111.9 million in fiscal 2019.
For the fourth quarter of fiscal 2020, Commvault
reported net income of $8.9 million, which includes the recognition of
approximately $10.0 million of tax benefits related to net operating losses
Commvault can carry back as a result of the CARES Act. Non-GAAP net income for
the quarter was $13.8 million, or $0.30 per diluted share.
For the full fiscal
year, Commvault reported a net loss of $5.6 million. Non-GAAP
net income for the full fiscal year was $67.5 million, or $1.45 per
diluted share.
Operating cash flow totaled $32.5 million for
the fourth quarter of fiscal 2020 compared to $36.6 million in the fourth
quarter of fiscal 2019. For the full fiscal year, operating cash flow
was $88.5 million, compared to $110.2 million for fiscal 2019.
Total cash, restricted cash and short-term investments were $339.7 million as
of March 31, 2020.
During the fiscal fourth quarter, Commvault
repurchased $37.2 million of common stock (872 thousand shares), bringing the
fiscal 2020 total repurchases to $77.2 million (1.7 million shares).
A reconciliation of GAAP to non-GAAP results has been provided in Financial Statement Table IV included in this press release.
An explanation of these measures is also included below under the heading “Use of Non-GAAP Financial Measures.”
Use of
Non-GAAP Financial Measures
Commvault has provided in this press release the following non-GAAP
financial measures: non-GAAP income from
operations, non-GAAP income from operations margin, non-GAAP net income,
non-GAAP diluted earnings per share and subscription and utility annual
contract value (“ACV”). This
selected financial information has not been prepared in accordance with GAAP. Commvault uses these non-GAAP financial
measures internally to understand, manage and evaluate its business and make
operating decisions. In addition, Commvault believes these non-GAAP operating
measures are useful to investors, when used as a supplement to GAAP financial
measures, in evaluating Commvault’s ongoing operational performance. Commvault
believes that the use of these non-GAAP financial measures provides an
additional tool for investors to use in evaluating ongoing operating results
and trends, and in comparing its financial results with other companies in
Commvault’s industry, many of which present similar non-GAAP financial measures
to the investment community. Commvault has also provided software and products,
services and total revenues on a constant currency basis. Commvault analyzes
revenue growth on a constant currency basis in order to provide a comparable
framework for assessing how the business performed excluding the effect of
foreign currency fluctuations.
All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for or superior to, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are provided in Table IV included in this press release.
Non-GAAP
income from operations and non-GAAP income from operations margin.These
non-GAAP financial measures exclude noncash stock-based compensation charges
and additional FICA and related payroll tax expense incurred by Commvault when
employees exercise in the money stock options or vest in restricted stock
awards, as well as restructuring costs and costs related to a non-routine
shareholder matter. In fiscal 2020, Commvault also excluded transaction costs
related to the acquisition of Hedvig Inc. (Hedvig), the noncash amortization of
intangible assets, certain costs related to key employees of Hedvig and the net
change in fair value of the contingent consideration associated with the
purchase of Hedvig from its non-GAAP results. These net expenses are further
discussed in Table IV. Commvault believes that these non-GAAP financial
measures are useful metrics for management and investors because they compare
Commvault’s core operating results over multiple periods. When evaluating the
performance of Commvault’s operating results and developing short- and
long-term plans, Commvault does not consider such expenses.
Although
noncash stock-based compensation and the additional FICA and related payroll
tax expenses are necessary to attract and retain employees, Commvault places
its primary emphasis on stockholder dilution as compared to the accounting
charges related to such equity compensation plans. Commvault believes that
providing non-GAAP financial measures that exclude noncash stock-based
compensation expense and the additional FICA and related payroll tax expenses
incurred on stock option exercises and vesting of restricted stock awards allow
investors to make meaningful comparisons between Commvault’s operating results
and those of other companies.
Amortization of intangible assets and
transaction costs related to business combinations result from mergers and
acquisitions. Expense for the amortization of intangible assets is a noncash
item. Similarly, any changes in fair
value of contingent consideration associated with the purchase price of
business combinations is a noncash item.
Commvault believes the exclusion of the amortization expense and net
change in contingent consideration provides for a useful comparison of
operating results to prior periods and to other companies. Business
combinations result in non-routine operating expenses which would not otherwise
have been incurred in the normal course of business operations. The exclusion
of acquisition related expenses and fair value remeasurements allows for
financial results that are more indicative of continuing operations and
provides for a useful comparison of Commvault’s operating results to prior
periods and to other companies.
There are a number of limitations related to the
use of non-GAAP income from operations and non-GAAP income from operations
margin. The most significant limitation
is that these non-GAAP financial measures exclude certain operating costs,
primarily related to noncash stock-based compensation, which is of a recurring
nature. Noncash stock-based compensation
has been, and will continue to be for the foreseeable future, a significant
recurring expense in Commvault’s operating results. In addition, noncash stock-based compensation
is an important part of Commvault’s employees’ compensation and can have a
significant impact on their performance.
Lastly, the components that Commvault excludes in its non-GAAP financial
measures may differ from the components that its peer companies exclude when
they report their non-GAAP financial measures.
Commvault’s management generally compensates for
the limitations described above related to the use of non-GAAP financial
measures by providing investors with a reconciliation of the non-GAAP financial
measure to the most directly comparable GAAP financial measure. Further,
Commvault management uses non-GAAP financial measures only in addition to, and
in conjunction with, results presented in accordance with GAAP.
Non-GAAP net income and non-GAAP diluted EPS.In
addition to the adjustments discussed in non-GAAP income from operations,
non-GAAP net income and non-GAAP diluted EPS incorporate a non-GAAP effective
tax rate of 27%.
Commvault anticipates that in any given period
its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as
evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years
were not meaningful percentages due to the dollar amount of GAAP pre-tax
income. For the same reason as the GAAP
tax rates, the estimated cash tax rates in recent fiscal years are not
meaningful percentages. Commvault defines its cash tax rate as the total amount
of cash income taxes payable for the fiscal year divided by consolidated GAAP
pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will
align.
Commvault considers non-GAAP net income and
non-GAAP diluted EPS useful metrics for Commvault management and its investors
for the same basic reasons that Commvault uses non-GAAP income from operations
and non-GAAP income from operations margin. In addition, the same limitations
as well as management actions to compensate for such limitations described
above also apply to Commvault’s use of non-GAAP net income and non-GAAP EPS.
Commvault considers non-GAAP net income and
non-GAAP diluted EPS useful metrics for Commvault management and its investors
for the same reasons that Commvault uses non-GAAP income from operations and
non-GAAP income from operations margin. In addition, the same limitations as well
as management actions to compensate for such limitations described above also
apply to Commvault’s use of non-GAAP net income and non-GAAP EPS.
Conference Call Information
Commvault will host a conference call today,
May 12, 2020, at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time) to
discuss its financial results. To access
this call, dial 844-742-4247 (domestic) or 661-378-9470 (international). The live webcast can be accessed under the
“Events” section of Commvault’s website. An archived webcast of this
conference call will also be available following the call.
About
Commvault
Commvault is the recognized leader in data
backup and recovery. Commvault’s converged data management solution redefines
what backup means for the progressive enterprise through solutions that
protect, manage and use their most critical asset — their data. Commvault
software, solutions and services are available from the company and through a
global ecosystem of trusted partners. Commvault employs more than 2,500
highly-skilled individuals across markets worldwide, is publicly traded on
NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United
States. To learn more about Commvault visit www.commvault.com
Safe Harbor
Statement
This press release may contain forward-looking
statements, including statements regarding financial projections, which are
subject to risks and uncertainties, such as competitive factors, difficulties
and delays inherent in the development, manufacturing, marketing and sale of
software products and related services, general economic conditions, outcome of
litigation and others. For a discussion of these and other risks and
uncertainties affecting Commvault’s business, see “Item IA. Risk
Factors” in our annual report in Form 10-K and “Item 1A. Risk
Factors” in our most recent quarter report in Form 10-Q. Statements
regarding Commvault’s beliefs, plans, expectations or intentions regarding the
future are forward-looking statements, within the meaning of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the Securities Exchange
Act of 1934, as amended. All such forward-looking statements are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Actual results may differ materially from anticipated results.
Commvault does not undertake to update its forward-looking statements. The
development and timing of any product release as well as any of its features or
functionality remain at our sole discretion.
Tinton Falls, N.J. – May 5, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that Metallic™, a Commvault® venture, is working with Zones, LLC, a global IT solutions provider committed to helping businesses complete their digital transformation, to further deliver SaaS-based data protection for Microsoft Office 365 and the Azure cloud through Metallic Office 365 Backup & Recovery. Together Metallic and Zones are expanding their market footprint and reaching more companies that require industry-leading data protection with a simple SaaS delivery model.
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Commvault Encourages Organizations to Adopt a Four-Step Approach to Resilience in the Age of Frontier AI
Tinton Falls, N.J. – May 4, 2020 – Commvault (NASDAQ:
CVLT) – Commvault will
release the Company’s financial results for its fiscal fourth quarter and full
year ended March 31, 2020, on Tuesday, May 12, 2020, followed by a webcast and
conference call at 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time).
Investors can access the live webcast by visiting https://ir.commvault.com. An archived webcast of this conference call will also be available following the call. Investors may also access the call by dialing (844) 742-4247 (domestic) or (661) 378-9470 (international). A telephone replay will be available for seven days following the call. To access the telephone replay, dial (855) 859-2056 (domestic) or (404) 537-3406 (international) using the conference ID 1690494.
About Commvault
Commvault is the recognized
leader in data backup and recovery. Commvault’s converged data management
solution redefines what backup means for the progressive enterprise through
solutions that protect, manage and use their most critical asset — their data.
Commvault software, solutions and services are available from the company and
through a global ecosystem of trusted partners. Commvault employs more than 2,300
highly-skilled individuals across markets worldwide, is publicly traded on
NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United
States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – April 23 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced the launch of NetApp Scale-out Data Protection (SDP) to offer expanded rapid recovery support for critical data across NetApp’s hybrid-enabled storage systems. NetApp SDP takes advantage of the NetApp portfolio and is powered by Commvault Complete™ Backup & Recovery software to provide snapshot management, backup and disaster recovery functionality.
Businesses today are highly data-driven, so losing access to this critical asset due to an outage, or modern threat, such as ransomware, can be catastrophic. While cloud-based technologies have made data more available, losing a critical system still risks financial and reputational impact. Companies must have the ability to quickly and reliably recover valuable business data.
Through NetApp SDP, Commvault and NetApp are combining NetApp HCI, All-Flash-FAS and StorageGRID with Commvault software to deliver the complete package, with quick and effective deployment, easy scale and on-premises object storage to efficiently protect critical cloud applications. Utilizing Commvault’s vast support for array and cloud snapshots and a full set of application and VM APIs, Commvault and NetApp have simplified the protection of hybrid cloud environments by delivering extremely fast and reliable RPO/RTO while incorporating long-term retention in an integrated cloud tier.
“When downtime occurs, access and recoverability of critical data, specifically in a cloud environment, critically impacts an organization’s ability to maintain business operations and meet SLAs,” said Ranga Rajagopalan, Vice President of Product Management, Commvault. “We’re proud to partner with NetApp’s entire storage portfolio to deliver a solution that meets today’s expectation for performance, simplicity, scale and cost, integrating both on-prem and public cloud deployments.”
Said Brett Roscoe, Vice President, Product Management, NetApp: “Commvault and NetApp’s longstanding partnership offers customers the reliability and simplicity of an engineered backup and recovery solution leveraging the strength of the NetApp portfolio. The launch of SDP provides our joint customers with a simple, turn-key solution that uses NetApp HCI to enhance the scalability and robustness of the Commvault software in protecting their most critical data across hybrid cloud environments.”
Commvault and NetApp have been partners for more than 20 years, jointly supporting 1,200 customers with critical data protection through Commvault Complete Backup and Recovery integrated with NetApp’s range of storage solutions both on-premises and in the cloud. In utilizing this technology, customers can migrate, simplify and convert their critical data and workloads to their preferred cloud provider, maximizing their investment.
NetApp’s Scale-out Data Protection is available from NetApp and NetApp channel partners only. For more information and to purchase, please contact your NetApp account manager or reseller.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J., April 21, 2020 – Commvault (NASDAQ: CVLT), a recognized
global enterprise software leader in data management across cloud and
on-premises environments, today filed lawsuits in federal court in Delaware
alleging Cohesity, Inc. and Rubrik, Inc. collectively infringe seven Commvault
patents relating to data management
technologies including cloud, data deduplication, snapshots, search,
security and virtualization.
Commvault has invested more than $1 billion in research and development,
yielding nearly 900 patents worldwide, with 350 patent applications pending.
Commvault’s lawsuits allege that Rubrik and Cohesity have impermissibly
appropriated Commvault-patented inventions in their products to short-circuit
the development process and minimize the investment necessary for them to have
competitive products.
Commvault is pursuing a judgment finding that Rubrik and Cohesity have
infringed and are infringing its United States patents and seeks injunctive
relief, as well as monetary damages for past and ongoing infringement.
“Commvault is not a litigious company but given this clear patent
infringement by Cohesity and Rubrik, we have a responsibility to file these
lawsuits – we must stand up for our innovation and intellectual property,” said
Commvault Vice President and General Counsel Warren Mondschein.
The lawsuit alleges that Cohesity has infringed and continues to
infringe at least one claim of U.S. Patent Nos. 7,725,671, 7,840,533,
8,762,335, 9,740,723, 10,210,048, and 10,248,657 and Rubrik has infringed and
continues to infringe at least one claim of U.S. Patent Nos. 7,725,671,
7,840,533, 8,447,728, 9,740,723, 10,210,048, and 10,248,657.
About Commvault
Commvault believes in data readiness. Commvault helps organizations of all sizes intelligently manage data through solutions that store, protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
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Tinton Falls, N.J. – April 16, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced two new industry recognitions from CRN®, a brand of The Channel Company – a 5-Star rating in CRN’s 2020 Partner Program Guide, for the seventh year in a row, and a coveted spot on the first ever 2020 Storage 100 list from the go-to resource for channel news.
The annual Partner Program Guide is the definitive listing of the most rewarding partner programs from technology companies that provide products and services through the IT channel. The Channel Company’s research team analyzed each vendor’s partner program, scoring the companies based on several factors, including program investments, partner profitability and training, and sales support. Based on that assessment, Commvault’s partner program stands among the elite technology suppliers in the IT channel, providing maximum value and support for solution providers.
“With the speed and complexity of technology today, solution providers need partners that can keep pace and support their growing business,” said Bob Skelley, CEO of The Channel Company. “CRN’s Partner Program Guide features insight into the strengths and benefits of each company’s program to identify those that truly support and drive positive change within the IT channel.”
Commvault’s global partner network consists of key industry alliances with market leaders, solution and service providers, and technology partners, coming together with a shared goal of helping customers store, protect, manage and use their data. Whether using an on-premises, hybrid, or private/public cloud storage model, Commvault teams with its partners to provide complete critical data backup and recovery support.
“We are honored to be recognized by CRN for our contributions to the partner community, helping drive product portfolio innovation, engagement with and across our partner ecosystem and profitable growth” said Mercer Rowe, Vice President, Global Partner Organization, Commvault. “We have spent more than two decades building a strong and dedicated network of global partners to successfully deliver intelligent data management solutions to customers of all sizes around the globe. These prestigious acknowledgements further support the importance of the Commvault Advantage and our joint mission in making customers data ready.”
Selected by a panel of respected CRN editors, the Storage 100 list acknowledges leading storage vendors who provide transformative, cutting-edge solutions. It will become an annual reference for solution providers who are seeking out vendors offering superior storage solutions in areas such as software-defined storage, data protection, data management and storage components.
Added Skelley: “CRN’s Storage 100 list is our newest recognition of the best of the best in storage innovation. These companies are on the forefront of storage technology advancements, delivering state-of-the-art solutions that are built for the future. We acknowledge and congratulate them for their investment in R&D, engineering and innovation. Their efforts enable solution providers to offer the best technology for their customers.”
Commvault believes in data readiness.Commvault helps organizations of all sizes intelligently manage data through solutions that store, protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education, and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers, and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelco.com.
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J., April 9, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today confirmed that Starboard Value LP (“Starboard”) has nominated six candidates to stand for election to the Commvault Board of Directors at the Company’s 2020 Annual Meeting of Shareholders.
Commvault learned of Starboard’s investment in the Company in connection with Starboard’s Schedule 13D filing on March 30, 2020. Soon after, Commvault’s Chief Executive Officer and Chief Financial Officer spoke with Starboard representatives several times to understand their views and perspectives, as Commvault does with other shareholders.
Commvault is always open to considering shareholder suggestions on director candidates, and as part of this conversation Commvault offered to consider skills and candidates that Starboard thought were relevant. Starboard did not share such information until it formally nominated its director candidates. As such, today’s nominations announcement is the first time that Commvault has had the opportunity to consider Starboard’s director candidates.
Commvault issued the following statement:
Commvault’s top priorities, at this time, are the health and safety of our employees, taking care of customers and operating our business. Commvault’s Board and management team are focused on helping Commvault successfully navigate through the current environment, and we believe that this is where our attention should be directed. Notwithstanding these important priorities, Starboard has submitted director nominations, and the Commvault Board will, consistent with its fiduciary duties, consider them.
As always, the Commvault Board and management team are committed to acting in the best interest of our shareholders. Commvault is in a dynamic industry, and we have made measurable progress in our turnaround efforts over the past year. We remain confident that we are well-positioned for the future.
Commvault has a highly qualified, engaged Board composed of 11 directors, nine of whom are independent and five of whom joined the Board in approximately the past two years. These new directors include the Company’s Chief Executive Officer, who joined Commvault in February 2019, the Company’s independent Chairman and three additional independent directors, including two appointed in connection with an agreement with Elliott Management.
Commvault’s shareholders are not required to take action at this time. The Board’s Nominations and Governance Committee will review Starboard’s proposed director nominees and present its recommendation regarding director candidates in the Company’s proxy materials, which will be filed with the U.S. Securities and Exchange Commission and mailed to all shareholders eligible to vote at the Company’s 2020 Annual Meeting. The date of the Annual Meeting has not yet been announced.
Centerview Partners LLC is acting as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to the Company.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Additional Information
Commvault intends to file a proxy statement and proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for its 2020 Annual Meeting of Stockholders (the “2020 Annual Meeting”). COMMVAULT STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS THERETO) AND ACCOMPANYING PROXY CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain the proxy statement, any amendments or supplements to the proxy statement and other documents as and when filed by Commvault with the SEC without charge from the SEC’s website at www.sec.gov
Certain Information Regarding Participants
Commvault, its directors and certain of its executive officers may be deemed to be participants in connection with the solicitation of proxies from Commvault’s stockholders in connection with the matters to be considered at the 2020 Annual Meeting. Information regarding the ownership of Commvault’s directors and executive officers in Commvault stock is included in their SEC filings on Forms 3, 4, and 5, which can be found through the SEC’s website at www.sec.gov. Information can also be found in Commvault’s other SEC filings. More detailed and updated information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
Safe Harbor Statement
This document may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault’s business, see Commvault’s filings with the SEC, including those discussed in Commvault’s most recent Annual Report on Form 10-K and in any subsequent periodic reports on Form 10-Q and Form 8-K, each of which is on file with the SEC and available at the SEC’s website at www.sec.gov. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
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Tinton Falls, N.J. – April 9, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that it has named Martha Delehanty as its new chief people officer (CPO). Reporting directly to Sanjay Mirchandani, Commvault’s president and CEO, Delehanty will use her deep understanding of global talent trends and needs to expand Commvault’s employee recruitment, retention and professional development capabilities.
Delehanty joins Commvault at a time of unprecedented global change, as COVID-19 impacts businesses and people around the world. As CPO, Delehanty is helping guide Commvault’s employees though the personal and professional aspects of navigating life during a global pandemic, in addition to leading the company’s efforts to gather, retain and develop its diverse, innovative team of talented professionals.
“We at
Commvault are committed to helping our employees, customers and partners manage
the COVID-19 crisis,” said Mirchandani. “Having global accountably for many
aspects of human resources at Verizon, Martha combines a broad set of skills
with the ability to think creatively about talent processes. With Martha now
responsible for every aspect of Commvault’s teams worldwide, we are better
positioned than ever to ready our customers to take on their greatest data
challenges and grow our business around the world.”
Delehanty
brings to Commvault decades of human resources experience in progressively more
senior roles at Verizon. Most recently as senior vice president, human
resources at Verizon, she developed and implemented human resource policies and
strategies for more than 100,000 employees working across all of Verizon’s customer
segments.
“To ensure Commvault has the talent it needs to continue to simplify, innovate and execute, my focus will be to ‘get ‘em, build ‘em and keep ‘em,’” said Delehanty. “I look forward to realizing this goal by strengthening the link between our human resources plans and our business outcomes. At the same time, I will be working to guide and coach our team members so that, whatever their background or role at Commvault, they are confident that it is a place where they can build a fantastic, life-changing career—even during this pandemic.”
Delehanty holds a Bachelor of Science degree in psychology from Mount Holyoke College and a Master in Business Administration degree in finance from the University of Texas. She has been a powerful advocate for young women in science, technology, engineering and mathematics (STEM), helping drive participation in programs like Girls Who Code, Black Girls Code Built By Girls, and WiTNY (Women in Technology and Entrepreneurship in New York). She currently serves on the board of trustees for 180 Turning Lives Around, a non-profit organization dedicated to eliminating domestic violence.
About
Commvault
Commvault is
the recognized leader in data backup and recovery. Commvault’s converged data
management solution redefines what backup means for the progressive enterprise
through solutions that protect, manage and use their most critical asset —
their data. Commvault software, solutions and services are available from the
company and through a global ecosystem of trusted partners. Commvault employs
more than 2,300 highly-skilled individuals across markets worldwide, is
publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New
Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor
Statement
Customers’
results may differ materially from those stated herein; Commvault does not
guarantee that all customers can achieve benefits similar to those stated
above. This press release may contain forward-looking statements, including
statements regarding financial projections, which are subject to risks and
uncertainties, such as competitive factors, difficulties and delays inherent in
the development, manufacturing, marketing and sale of software products and
related services, general economic conditions and others. Statements regarding
Commvault’s beliefs, plans, expectations or intentions regarding the future are
forward-looking statements, within the meaning of Section 27A of the Securities
Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934,
as amended. All such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from anticipated results. Commvault does
not undertake to update its forward-looking statements. The development and
timing of any product release as well as any of its features or functionality
remain at our sole discretion.
Tinton Falls, N.J. – April 3, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that its Board of Directors has adopted a limited duration shareholder rights plan (the “Rights Plan”).
In adopting the Rights Plan, the Board has taken note of the substantial increase in market volatility and uncertainty as a result of the global COVID-19 pandemic, as well as its impact on the Company’s stock price, which the Board believes does not reflect the Company’s inherent value or business performance. The Board believes that management’s focus at this time should be on the health and safety of Commvault’s employees, taking care of customers and operating Commvault’s business in this unprecedented environment.
The Rights Plan expires on April 1, 2021. It is similar to plans adopted by other public companies and is intended to protect the interest of the Company and its shareholders by reducing the likelihood that any person or group gains control of Commvault through open market accumulation or other tactics without paying an appropriate control premium. The Rights Plan also helps ensure that the Board has sufficient time to make informed decisions that are in the best interests of the Company and all Commvault shareholders. The Rights Plan applies equally to all current and future shareholders and is not intended to deter offers that are fair and otherwise in the best interest of the Company’s shareholders.
Pursuant to the Rights Plan, the Company is issuing one right for each share of common stock outstanding at the close of business on April 13, 2020. The rights will become exercisable only if an entity, person or group acquires beneficial ownership of 10% or more of the Company’s common stock (including in the form of synthetic ownership through derivative positions), or 20% in the case of certain passive investors. Any person or group owning above the applicable threshold at the time of public announcement of the Rights Plan will cause the rights to become exercisable only if the person or group acquires beneficial ownership of additional common stock. When the rights become exercisable, each holder of a right (other than, as detailed in the Rights Plan, the person or group triggering the rights) will be entitled to purchase, at the then-current exercise price (which was initially set at $200.00 per right), additional shares of common stock having a value of twice the exercise price of the right (a 50% discount). Rights held by any entity, person or group whose actions trigger the Rights Plan, and those of certain related parties, would become void.
Prior to the rights becoming exercisable, the rights are redeemable for $0.01 per right at the option of the Board.
Additional details regarding the Rights Plan are contained in a Form 8-K to befiled by the Company with the U.S. Securities and Exchange Commission.”
About Commvault
Commvault believes in data readiness.Commvault helps organizations of all sizes intelligently manage data through solutions that store, protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Commvault’s New Product Innovations Help Enterprises Accelerate Their Move to the Cloud
— Latest release extends Commvault’s cloud leadership, with new capabilities for AWS, Azure, and Alibaba that expand enterprises’ ability to quickly and easily back up, recover and migrate workloads across on-premises and multiple clouds—
Tinton Falls, N.J. – March 30, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced the availability of its latest product innovations, which include new cloud and on-premises data management capabilities. These capabilities extend the flexibility and simplicity of Commvault’s cloud solutions, making it easier for customers to protect, control, manage and use data across multiple clouds.
This includes new support for the backup and recovery of AWS databases, migration of Oracle and MS SQL databases across multiple clouds such as AWS, Microsoft Azure, and the Alibaba Cloud Elastic Compute Service (ECS), and ServiceNow integration.
“In these challenging times it is important that organizations have flexibility when it comes to managing their data, and the cloud is a critical part of that,” said Commvault Vice President of Product Management Ranga Rajagopalan. “With these new capabilities we are making it easier for our customers to move more workloads into the cloud and offering greater simplicity and flexibility in managing and protecting their data, wherever it resides.”
More Flexibility in Shifting and Managing Workloads in the Cloud
As customers shift more workloads into the cloud, they require the ability to move and manage data on a variety of cloud platforms. With today’s announcement, Commvault has expanded its cloud capabilities by:
Enabling customers to back up, recover, and migrate AWS DynamoDB, Redshift, and DocumentDB database solutions.
Allowing customers to convert, back up, and migrate VMware workloads to the Alibaba Cloud ECS to increase the flexibility of their hybrid multi-cloud environments.
Supporting the migration of Oracle and Microsoft SQL database applications to Microsoft Azure, expanding customers’ ability to integrate Azure cloud services into hybrid environments.
Further integrating with the ServiceNow platform to enable self-service. This deep integration allows Commvault customers to back up, recover, and migrate file systems, VMs, Microsoft SQL Server workloads and other ServiceNow catalog assets, all within the ServiceNow SaaS platform.
Offering the ability to quickly convert Oracle Unix databases to Linux and vice versa. This new capability makes it easier for customers to migrate on-premises Unix Oracle databases to the cloud, or cloud Linux Oracle databases to on-premises infrastructure, all without needing an Oracle enterprise license.
Simplifying Data Management with a Tightly Integrated User Interface
To simplify the customer experience across Commvault solutions, customers can now sign in once to manage Commvault across multiple deployments, all through a pull-down menu that enables quick navigation across Commvault regional, datacenter, client, or other deployments within the Commvault Command Center™. Commvault has also further simplified the user experience for its Commvault Activate™ data insights and governance solution by allowing customers to schedule data collection and access reports on File Storage Optimization, Sensitive Data Governance and eDiscovery from the Commvault Command Center.
Commvault is making it easier for its customers to understand how to make the most of new capabilities by expanding its on-demand learning resources. This includes videos on new capabilities that can be viewed at Commvault’s on-demand learning library.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
— The Gartner Peer Insights Customers’ Choice distinction is based on feedback and ratings from end-user professionals who have experience purchasing, implementing, or using the product or service —
Tinton Falls, N.J. – February 24, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, is excited to share that, for the third time in a row, Commvault was named a Gartner Peer Insights Customers’ Choice for Data Center Backup and Recovery Solutions. Gartner defines the data center backup and recovery software market as being focused on providing backup capabilities for upper-end midmarket and large-enterprise environments.
“To us, being named a 2020 Gartner Peer Insights Customers’ Choice for Data Center Backup and Recovery Solutions reflects our commitment to help our customers thrive and aligns with our recent Net Promoter Score, which is well above industry averages and showed a 94 percent rating for excellence for reliability of backup and recovery,” said Sandra Hamilton, Vice President of Customer Success, Commvault. “We are honored by the terrific feedback our customers have shared via Gartner Peer Insights, and we look forward to continuing to deliver our customers new innovations that enable them to further simplify and automate data protection and management across their cloud and on-premises environments.”
Customers consistently praised Commvault’s capabilities, service and support in the latest Peer Insights ranking. Some of the reviews that contributed to Commvault’s recognition, which can be located at Gartner Peer Insights, include:
“Commvault has exceeded my expectations to deliver a world class product…Commvault is willing to innovate with us and they listen. They have shown a high level of commitment to us in making sure we are successful in using their software and also helping us capture more value by extending its use to new areas,” said a director in the manufacturing industry.
“Commvault has maintained itself over the years as a reliable and very flexible product. It has shifted with our infrastructure without hesitation and at times driven changes to our infrastructure to improve overall RPO and RTOs,” said a senior storage engineer.
“The application is really powerful and can back up almost anything. The application’s management console is handy and straightforward,” said a senior systems architect in finance.
“The centralized management of the backup solution is very easy and reporting can be scheduled as per our requirement,” said a CIO in the manufacturing industry.
“Commvault has always been a great tool in terms of Enterprise level Backup and Recovery Solution. The SAM/TAM support is beyond excellence as they are always available to extend their support for any kind of issues,” said a backup operations lead in the services industry.
Peer Insights is an online platform of ratings and reviews of IT software and services that are written and read by IT professionals and technology decision-makers. The goal is to help IT leaders make more insightful purchase decisions and help technology providers improve their products by receiving objective, unbiased feedback from their customers. Gartner Peer Insights includes more than 215,000 verified reviews in more than 340 markets. For more information, please visit www.gartner.com/reviews/home
Gartner Peer Insights Customers’ Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. Learn more about Commvault
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – February 19, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, announced today that Commvault Complete Backup and Recovery (v11) received the Gold award in Backup and Disaster Recovery Hardware, Software and Services in TechTarget’s Storage magazine and SearchStorage 2019 Products of the Year awards.
According to TechTarget’s Storage magazine and SearchStorage, ”multiple judges described the data backup and disaster recovery product as ‘comprehensive.’ One judge called it a well-established product with a proven track record and an ‘ability’ to work with a wide range of other ‘systems.’ Judges also praised its AI capabilities, which adapt to changes to meet defined service-level agreements. The software analyzes patterns and performance and adjusts to improve outcomes.”
The 2019 Products of Year awards were judged by the editorial staff at Storage magazine and SearchStorage, in conjunction with industry experts, analysts and consultants. Judges evaluated products based on innovation, performance, ease of integration, ease of use and manageability, functionality and value.
“We are deeply honored to win one of the industry’s highest recognitions,” said Sanjay Mirchandani, Commvault’s President and CEO. “We believe this award is a true testament of our relentless commitment to innovation and our reputation as being a long-standing, trusted vendor for our customers and partners. While we’ll take a quick moment to enjoy the hard-earned achievement, we will continue delivering solutions that solve the tough challenges our customers ask us for.”
“In evaluating the Storage Products of the Year entries, our judges assessed on the criteria of innovation, performance, ease of integration into environments, ease of use and manageability, functionality and value,” said Jillian Coffin, TechTarget Storage Media Group’s Vice President and Publisher. “This year’s backup and disaster recovery category has a strong cloud component, as well as the addition of comprehensive data protection and the ability to handle many types of workloads.”
Commvault’s “Product of the Year” win marks the latest award in a string of industry achievements for the company over the past few months. Earlier in the month, CRN recognized Commvault as one of its 100 Coolest Cloud Companies of 2020. This annual list honors the premier cloud technology suppliers in five key categories: infrastructure, platforms and development, security, storage and software. Also just a few months prior, Forrester named Commvault a Leader in Data Resiliency Solutions, while Gartner positioned Commvault as a Leader in its Magic Quadrant for Data Center Backup and Recovery Solutions.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – February 11, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced that CRN®, a brand of The Channel Company, has named Commvault’s Mercer Rowe, Vice President, Global Channels and Alliances, and Carmen Sorice III, Vice President of America’s Channels and Alliances, to its 2020 list of Channel Chiefs. This annual list recognizes the top vendor executives who continually demonstrate exemplary leadership, influence, innovation, and growth for the IT channel. Commvault was also recently honored by CRN as one of its Top 100 Coolest Cloud Computing Companies of 2020.
CRN’s 2020 Channel Chiefs list honors the distinguished leaders who have influenced the IT channel with cutting-edge strategies and partnerships. Channel Chiefs are chosen because they have demonstrated outstanding commitment, ability to lead, and passion for progress within the channel through their partner programs. The Channel Chief honorees were chosen by the CRN editorial staff for their dedication, industry prestige and exceptional accomplishments in driving the channel agenda and evangelizing the importance of channel partnerships.
Under the leadership of Rowe and Sorice III, Commvault has delivered simplicity, predictability and profitability to its partners through its newly enhanced Partner Advantage Program. The program efficiently and effectively arms Commvault’s global partner ecosystem with the tools, knowledge and financial incentives to drive new business opportunities, achieve higher margins and grow together with Commvault.
“It is an honor to be recognized by CRN and it’s especially gratifying having just joined Commvault last year. Being able to join a company that’s moving into its second act is a gift, especially one that consistently produces great technology and is a recognized leader in the industry,” said Rowe. “I’m here to help take the company to the next level, with a key objective to build on our momentum by providing an even stronger foundation for the success of our worldwide partner ecosystem and our mutual customers.”
Said Sorice III: “I’m ecstatic to be recognized by CRN as a 2020 Channel Chief. This honor reinforces the work our great company has done over the past year to transform itself into a partner-led organization. We are continuing to leverage portfolio innovations, together with the acquisition of Hedvig and the debut of our Metallic SaaS portfolio, to help partners stay relevant with their customers and increase their profitability. We are the company that makes things happen for partners by helping them provide proven, market leading, Intelligent Data Management solutions to their customers.”
“The IT channel is undergoing constant evolution to meet customer demands and changing business environments,” said Bob Skelley, CEO of The Channel Company. “CRN’s Channel Chiefs work tirelessly, leading the industry forward through superior partner programs and strategies with a focus on helping solution providers transform and grow. Our team here at The Channel Company congratulates these outstanding individuals for their dedication to the channel.”
CRN’s 2020 Channel Chiefs list will be featured in the February 2020 issue of CRN Magazine and online at www.CRN.com/ChannelChiefs.
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequaled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace.
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
Tinton Falls, N.J. – February 5, 2020 – Commvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced CRN, a brand of The Channel Company, has named Commvault as one of its 100 Coolest Cloud Companies of 2020. This annual list honors the premier cloud technology suppliers in five key categories: infrastructure, platforms and development, security, storage and software.
The CRN editorial team selects the 100 Coolest Cloud Computing Companies according to their originality and innovation in product development, the quality of their services and partner programs, and their success in helping their customers save money and maximize the impact of their cloud computing technology.
Commvault was selected for providing innovative technology that helps IT leaders move, manage and use data across on-premises and cloud locations. With comprehensive capabilities for backup and recovery, eDiscovery and disaster recovery, Commvault offers data protection across files, applications, databases, hypervisors and clouds. From a single platform, Commvault supports both on-premises and cloud data protection, tightly integrated with the leading cloud providers including Microsoft, Amazon Web Services (AWS), Google and more than 40 cloud storage options.
In addition to honoring outstanding technology suppliers, the 100 Coolest Cloud Companies list also enables solution providers to identify the most advanced cloud technology players — aiding them in selecting the companies that can best support their cloud service needs.
Commvault provides the breadth and depth, scalability and flexibility that today’s organizations need to realize a multi-cloud strategy. Commvault is also committed to giving customers ease of use, value and choice in how they want to consume its technology across any hybrid IT environment, be it on-premises or in the Cloud. Metallic, its recently announced software-as-a-service solution, exemplifies this customer-focused approach.
“The IT channel relies on cloud services as the foundation for building modern, transformational solutions,” said Bob Skelley, CEO, The Channel Company. “CRN’s annual list of 100 Coolest Cloud Companies seeks to honor the top cloud providers, whose mission and actions support innovation in cloud-based technologies. Our team congratulates these honorees and thanks them for their commitment to leading positive change in cloud technology.”
“Our innovation is focused on working with our partners to help joint customers with their journey to the cloud. We are also committed to giving customers ease of use, value and choice in how they want to consume our products, be it on-prem, in the cloud, or hybrid,” said Mercer Rowe, Vice President, Global Channels and Alliances, Commvault. “Being named to the CRN’s list of 100 Coolest Cloud Computing Vendors further validates our strategy and vision for the future because the data-related problems that customers encounter in the cloud require a whole new approach. We believe Commvault is the only company with the vision, experience and products to bring data and storage management together for a unique and differentiated solution to customers’ current and evolving needs.”
The new 100 Coolest Cloud Companies list will be featured in the February 2020 issue of CRN and at www.crn.com/cloud100
About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,300 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com
About The Channel Company
The Channel Company enables breakthrough IT channel performance with our dominant media, engaging events, expert consulting and education and innovative marketing services and platforms. As the channel catalyst, we connect and empower technology suppliers, solution providers and end users. Backed by more than 30 years of unequalled channel experience, we draw from our deep knowledge to envision innovative new solutions for ever-evolving challenges in the technology marketplace. www.thechannelco.com
Safe Harbor Statement
Customers’ results may differ materially from those stated herein; Commvault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.
