CommVault says will go it alone, despite M&A buzz
By Nadia Damouni
NEW YORK (Reuters) - CommVault Systems Inc has managed to skirt rampant consolidation in the fast-growing storage software market, and CEO Bob Hammer is planning to keep it that way.
CommVault, which has a market value of about $2.3 billion, is considered one of the few acquisition targets left in the publicly traded storage software space.
Hewlett-Packard Co, IBM Corp and Dell Inc each spent billions of dollars last year buying CommVault's rivals, including 3Par Inc, Isilon Systems Inc and Compellent Technologies Inc, to build out their data centers.
This week CommVault pulled out of a trade conference in Dana Point, California -- a move often seen as a sign that strategic change, such as potential takeover discussions, is in the works.
But Hammer, in an interview with Reuters, said he is focused on growing the New Jersey-based company's annual revenues over the next five years to about $1 billion from roughly $400 million now.
"Whatever happens on the M&A side, our mission is clear -- create shareholder value on our own as an independent company," Hammer said.
He did not, however, rule out forming more business partnerships along the way. CommVault already has partnerships with Dell, under which the two develop products, including data protection software GalaxyExpress. It also has partnerships with Hitachi Data Systems and NetApp Inc.
"If we can add a strategic partner that has some meaning to enable the company to grow, we will do that," Hammer said. "There are some opportunities that may come to fruition that will enable us to do that." Continued...