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Home > Cybersecurity > Kaseya is acquiring Datto for $6.2 billion

Kaseya is acquiring Datto for $6.2 billion

Kaseya and Datto announced that they have entered into a definitive agreement for Kaseya to acquire Datto.


Erdem Yasar Erdem Yasar
April 12, 2022
2 min read
Kaseya is acquiring Datto for $6.2 billion

Unified IT management and security software provider, Kaseya announced that the company has entered into a definitive agreement to acquire Datto, a global security and cloud-based software solutions provider. An equity consortium led by Insight Partners will fund the all-cash transaction, with significant investment from TPG and Temasek, and participation from notable investors including Sixth Street.

$35.50 per share

According to the terms of the agreement, Datto stockholders will receive $35.50 per share. The transaction values the company at approximately $6.2 billion. The offer represents a 52% premium to Datto’s unaffected stock price of $23.37 as of March 16, 2022. This deal also represents a 48% premium to the unaffected 30-day volume-weighted average price of Datto stock for the period ending March 16, 2022.

Fred Voccola, CEO of Kaseya
Fred Voccola, CEO of Kaseya

The transaction is expected to close in the second half of 2022. The transaction is subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals. In addition to unanimous board approval, shareholders holding in aggregate approximately 70% of the issued and outstanding shares of common stock of Datto have approved the transaction by written consent. When the transaction is completed, Datto’s common stock will no longer be listed on the New York Stock Exchange. Fred Voccola, CEO of Kaseya said,

« 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. 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.” Continued Voccola, “Kaseya is known for our outstanding track record of retaining the brands and cultures of the companies we acquire and supercharging product quality. We couldn’t be more excited about what lies before us, Kaseya and Datto will be better together to serve our customers. »

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Tags: Datto IncKaseya
Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7, Erdem was the managing editor of T3 Magazine.

Comments 1

  1. Sean says:
    12 months ago

    The first real technology company I worked for (an MSP) was heavily invested in the early days of Kaseya, ConnectWise, and Datto. I think it’s only fitting that they are all in one incredibly overpriced basket now.

    If you have clients with a huge budget, it’s awesome. For little guys like me now, no way.

    I will say that Datto (at least) used to make a really cool product. Definitely under appreciated it when I had access to them.

    Reply

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