Cloud Firm Vembu Buys CloudNucleus To Boost Data Backup, Recovery Solutions
Chennai-based Vembu Technologies, which provides Cloud-based data backup and retrieval solutions to small businesses, has acquired CloudNucleus (hailing from the same domain) for an undisclosed sum, according to a company statement. However, some media reports peg the acquisition value at an estimated $10 million (Rs 45 crore), quoting persons with direct knowledge of the transaction. The deal is a mixture of cash & equity and it is the first acquisition of the seven-year-old firm.
Vembu's offerings in the areas of business continuity and disaster recovery, continuous data protection (CDP), bare metal recovery (BMR) and protection of virtualised environments will be further enhanced by this acquisition, the company has added.
"This combination is all about accelerating our ability to bring key functionality to our MSP and MHP partners," Vembu founder and CEO Sekar Vembu commented on the deal.
Post-acquisition, CloudNucleus' employees, customers and partners will benefit from Vembu's extensive partner community, expertise in data protection solutions for the MSP market, global presence and overall financial strength.
"We will now have additional resources to accelerate the development of solutions that enables our partners to deliver differentiated services to their customers," said Srivatsan Venkatesan, founder and CEO of CloudNucleus.
Founded by IIT-Madras alumnus Sekar Vembu in 2004, Vembu Technologies provides cost-effective, hybrid (on-premise & Cloud) data protection solutions to small and medium businesses (SMBs) across the globe.
Chennai-headquartered CloudNucleus delivers virtualisation-based data protection and disaster recovery products to SMBs, so that they can implement virtualised backups and thus ensure disaster recovery for a fraction of the cost of traditional data backup solutions. StorCube Backup and Recovery is the company's flag-ship product that provides automated backup of systems, applications and data, providing an assured protection for physical, virtual and Cloud-based environments.