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Kaseya to acquire Datto for US$6.2b

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Kaseya to acquire Datto for US$6.2b
Fred Voccola (Kaseya) & Tim Weller (Datto)

Software giant Kaseya will acquire fellow vendor Datto for US$6.2 billion through an all-cash deal.

“This is exciting news for Kaseya’s global customers, who can expect to see more functional, innovative and integrated solutions as a result of the purchase,” Fred Voccola, CEO of Miami-based Kaseya, said in a statement. “Datto has a legendary commitment to its customers and employees. The alignment of our missions and focus makes us a natural fit that will help our greatly appreciated customers reach new levels of success.”

The transaction was a sale from Vista Equity Partners, which owned 69 percent of Datto prior to its sale to Kaseya. The acquisition will be funded by an equity consortium led by Insight Partners, with investments from TPG, Temasek and Sixth Street, according to a news release.

Datto provides a range of tools targeting how MSPs run their business and support customers. The company is known in the investor community for its 2020 IPO, giving it a high profile in an industry known as a stronghold of privately held businesses.

Under the agreement, Datto stockholders will receive US$35.50 per share in a transaction, which values Datto at about US$6.2 billion. The offer represents a 52 percent premium to Datto’s unaffected stock price of US$23.37 as of March 16, 2022, according to a news release.

“Datto has always been committed to creating world-class technology for SMBs and delivering it through our global network of MSPs to align our growth with the channel. Combining with Kaseya brings together a broader array of technology products to create additional opportunities for MSPs,” said Tim Weller, CEO of Datto, in a statement.

“I’m encouraged by the continued investment in the rapidly expanding global MSP community, and this transaction is another important validation of the channel.”

The transaction is expected to close in the second half of 2022.

This article originally appeared at crn.com

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