Data protection software provider Commvault Systems is exploring strategic options, including a potential sale, after attracting takeover interest from multiple suitors, including private equity firm Thoma Bravo, according to a report by Reuters.
The report cites unnamed people familiar with the matter as revealing that the Tinton Falls, New Jersey-based company, which has a market capitalisation of roughly $3.5bn, is working with Goldman Sachs Group Inc to evaluate its options following inbound approaches from both private equity firms and strategic acquirers.
Software-focused private investment firm Thoma Bravo has reportedly expressed renewed interest in the business in recent weeks having previously tabled an offer, although details of timing and valuation have not been disclosed.
The development comes against a challenging backdrop for publicly listed software companies, many of which have seen valuations compress as investors reassess the potential impact of artificial intelligence on traditional software models. Despite this, Commvault has continued to report solid operational performance, including double-digit revenue growth and rising annualised recurring revenue.
Commvault Systems provides data protection, backup and recovery solutions used by enterprise clients to safeguard systems against cyberattacks, ransomware and operational failures. Its customer base includes large global corporates such as 3M, Sony, and Hilton.
Shares in the company have experienced significant volatility over the past year, reflecting broader uncertainty in the software sector, even as data resilience and cyber recovery capabilities remain a key growth area within enterprise IT spending.
No final decisions have been made and discussions remain ongoing, with Goldman Sachs advising on the review process, according to the sources.
