Company: CVLT
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001169561-25-000034
Chunk: 91

Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-05-05
Form: 10-K
Item: Item 8
Chunk 91
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 year ended March 31, 2025, we incurred costs related to the acquisition of Appranix of approximately $683, which were included in general and administrative expenses. The following table summarizes the final purchase price and purchase price allocation:Purchase price allocation:Cash consideration$21,032 Fair value of unregistered restricted stock units4,900 Fair value of contingent consideration340 Total purchase price$26,272 Assets acquired and liabilities assumed:Cash$32 Trade accounts receivable239 Developed technology5,300 Accrued liabilities(36)Deferred revenue(98)Deferred tax liability(907)Total identifiable net assets acquired and liabilities assumed4,530 Goodwill21,742 Total purchase price$26,272 Contingent ConsiderationThe contingent consideration arrangement requires us to pay up to $4,000 in cash to the former owner of Appranix, contingent upon the achievement of certain financial metrics measured on December 31, 2024 and June 30, 2025. The actual consideration can range from $0 to $4,000. The fair value of the contingent liability on the acquisition date was estimated to be $340 using a Monte Carlo simulation model. At the end of each reporting period after the acquisition date, the arrangement is remeasured at its fair value, with changes in fair value recorded through the consolidated statements of operations as operating expenses. As of March 31, 2025, we expect the achievement to be $2,400, of which $1,527 has already been paid. We recorded $2,060 in operating expenses during fiscal 2025 related to changes in the estimated fair value and as a result, $873 is included in accrued liabilities on the consolidated balance sheets as of March 31, 2025.

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Commvault Systems, Inc. Notes to Consolidated Financial Statements — (Continued) (In thousands, except per share data) 

Clumio, Inc. AcquisitionOn October 1, 2024, we completed the acquisition of certain assets of Clumio, Inc. ("Clumio"), a California-based data backup and recovery provider, for an initial purchase price of $44,909 in cash consideration. In the fourth quarter of fiscal 2025, customary closing adjustments led to a reduction in the purchase price of $598, resulting in final cash consideration of $44,311. The primary reason for the business combination is to extend our product offerings in our existing cyber resiliency market.