05:06 PM EDT, 09/24/2024 (MT Newswires) -- Commvault Systems ( CVLT ) said late Tuesday it will acquire Clumio, a technology provider in data protection for critical cloud data in Amazon's ( AMZN ) Amazon Web Services.

Commvault ( CVLT ) said the purchase is not material to the firm and will be funded with cash on hand. It expects to close the deal early next month.

The company said it expects the acquisition to be immediately accretive to annualized recurring revenue and revenue, and accretive to free cash flow within the next three quarters.

Commvault ( CVLT ) shares were up about 1.9% in after-hours activity.

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