CommVault Systems spins off from Lucent Technologies in deal sponsored by Donaldson, Lufkin & Jenrette Merchant Banking Partners and DLJ's Sprout Group.NEW YORK--(BUSINESS WIRE)--June 12, 1996--CommVault Systems Inc. announced today that it has purchased the CommVault System business from Lucent Technologies in a management-led buyout, sponsored by Donaldson, Lufkin & Jenrette Merchant Banking Partners L.P. and DLJ's Sprout Group. The transaction closed on May 22. Terms of the acquisition were not disclosed. The announcement took place at a news briefing here for the news media and CommVault customers. Formerly known as AT&T CommVault Systems CommVault Systems Inc. (NASDAQ: CVLT) is a United States based company specializing in data and storage management software. Created in 1988 as a development group in AT&T's Bell Labs, the group produced AT&T's in-house backup software, Automatic Backup, Archive and Recovery , the business was among the AT&T divisions spun off recently as part of Lucent Technologies Inc. CommVault Systems Inc., based in Eatontown, N.J., designs and markets a fully-integrated line of network storage management solutions for distributed client/server environments. CommVault provides users with automated backup and restoration, hierarchical storage management See HSM. , on-line and near-line archiving and disaster recovery scenarios. Scotty R. Neal, president of CommVault Systems, said of the acquisition, "This is a momentous occasion for CommVault Systems. The opportunities for growth in the network storage and data management industries are immense, and becoming a private company is the first step toward becoming the category leader. In this new structure we can effectively leverage our talents and sharpen our focus on the two things that matter most to our customers -- superior products and excellent service." Thomas Barry, director of DLJ's Merchant Banking Group, announced, "We have found a market leader that was underperforming relative to its product's strength, its installed base, and its category growth rate. This is an excellent acquisition for DLJ DLJ Distributor License for Java DLJ Donaldson, Lufkin & Jenrette Inc. DLJ Drive Like Jehu (band) DLJ Defence Laboratory Jodhpur (India) DLJ Dead Letter Journal ." Steve Chappell, network operations systems vice president of Lucent Technologies, said, "In the case of CommVault System's independence, we at Lucent are like proud parents, sending a child into the world. CommVault has matured beautifully under our corporate structure, and we know they have the skills to succeed independently. We are proud of the CommVault Systems team and we wish them luck." "The sale serves the needs of the CommVault Systems business, its customers, its employees and of Lucent Technologies," said Rudy Frank, vice president of applications software, Lucent Technologies. "This is a strong business, but one that is not strategic -- relative to our core direction for the future," he said. "Under its new ownership, CommVault should be able to maintain excellent responsiveness to its customers." Scotty R. Neal became the chief executive officer and president for the new company effective as of the May 22 closing. Neal, a 24-year veteran of AT&T, has served as the director of AT&T CommVault Systems for eight years. Prior to his position at AT&T CommVault Systems, Neal acquired a broad range of experience in research and development with Bell Laboratories, emerging as one of its most respected leaders. Neal received his B.A., master's and Ph.D. degrees from the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). at Riverside. David Ireland David Neil Ireland (born 24 August, 1927) is an Australian novelist. David Ireland was born in Lakemba in New South Wales in 1927. Before taking up full-time writing in 1973 he undertook the classic writer's apprenticeship by working in a variety of jobs ranging from became the chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of CommVault Systems Inc., effective at the closing. Previously, he was vice president of sales and marketing for AT&T CommVault Systems. He had been employed in that capacity for six years. Prior to that, Ireland served as vice president, sales and marketing for a division of Eastman Kodak. Ireland has more than 20 years of sales and marketing experience. Said Ireland, "As the leader in providing network storage solutions to industrial, financial and military operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. worldwide, we are thrilled to have this new platform for growth. CommVault Systems is now empowered to become the market leader in this booming industry." Lucent Technologies, which was formed as a result of AT&T's announced restructuring, designs, builds and delivers a wide variety of public and private networks, communications systems and software, consumer and business telephone systems and microelectronic components. Donaldson, Lufkin & Jenrette Inc. (NYSE NYSE See: New York Stock Exchange :DLJ) is a leading integrated investment and merchant bank that serves institutional, corporate, governmental and individual clients. DLJ's businesses include securities underwriting; sales and trading; merchant banking; financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal ; investment research; correspondent brokerage services; and asset management. Founded in 1959 and headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , DLJ employs 4,676 individuals worldwide and maintains 17 offices in 13 cities in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and seven offices in six cities in Europe and the Far East. In May 1992, DLJ formed DLJ Merchant Banking Partners DLJ Merchant Banking Partners (DLJMB) is a LBO-focused private equity firm of Credit Suisse. DLJMB has offices in New York, London and Los Angeles. External links
CommVault Systems serves an international array of business, industry, government and military clients. For more information on CommVault Systems, call Kim Ciapka, director of marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales for CommVault Systems, at 908/935-8054. CONTACT: Roberts & John Advertising and Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , Parsippany Barbara Brown, representing CommVault Systems, 201/331-1070 or Lucent Technologies Rich Meyer, 908/582-5522, 201/822-2765 (home) or CommVault Systems, Eatontown Kim Ciapka, 908/935-8054 |
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