• Commvault working with Goldman Sachs after takeover interest, sources say
  • Thoma Bravo among firms expressing takeover interest, sources say
  • Commvault shares shed roughly 60% of value since September

NEW YORK, April 10 (Reuters) - Data protection software provider Commvault Systems CVLT.O is exploring a sale after receiving takeover interest from multiple parties, according to four people familiar with the matter.

Commvault, which has a market capitalization of about $3.5 billion, is working with Goldman Sachs GS.Non its options, according to the sources, after fielding inquiries from both private equity firms and strategic buyers.

Thoma Bravo is among the potential buyers that have expressed interest in Commvault in recent weeks, said two of the sources. One source said the buyout firm had already made an earlier offer for the company, without specifying when and at what price.

Commvault, Goldman Sachs, and Thoma Bravo declined to comment.

Tinton Falls, New Jersey-based Commvault provides software that helps businesses protect and recover data in the event of cyberattacks, ransomware, system failures or accidental deletion across major enterprise platforms and cloud providers.

Its customers include 3M MMM.N, Sony 6758.T and Hilton HLT.N, according to its website.

Valuations of publicly traded software companies have broadly struggled in recent months, as investors fret over how artificial intelligence is disrupting their business models. After hitting an all-time high on September 18, Commvault shares have subsequently dropped around 60%.

Despite its share performance, Commvault reported strong growth in its most recent quarter, with revenue rising 19% to a record $314 million. Annualized recurring revenue reached $1.085 billion, up 22% on the prior year.