Software package maker Datto to be taken private by Kaseya for $6.2 bln

Kaseya emblem and binary code observed in this illustration taken, July 5, 2021. REUTERS/Dado Ruvic

Register now for Free of charge limitless accessibility to Reuters.com

April 11 (Reuters) – Cybersecurity application provider Datto (MSP.N) stated on Monday it would be taken personal by protection computer software company Kaseya for $6.2 billion in an all-income offer funded by a consortium led by personal fairness business Insight Partners.

The offer offers $35.50 per share in dollars to Datto shareholders, a virtually 52% top quality to the firm’s closing value on March 16 prior to a media report mentioned the software maker was checking out possibilities, like a sale.

The buy by Kaseya, an IT management application maker backed by Perception Partners, is also supported by investments from TPG Cash , Sixth Avenue Partners and Singapore condition investor Temasek.

Sign-up now for Absolutely free unlimited access to Reuters.com

The take-personal offer came considerably less than two decades due to the fact Vista Fairness-backed Datto went public on the New York Inventory Exchange in Oct 2020 at $27 per share. Vista Equity was the greatest shareholder of Datto, possessing almost 70% of the company.

Established in 2007, Datto would make stability and cloud-dependent software package for managed assistance providers for modest and medium-sized organizations. Vista Equity obtained Datto in 2017 and merged it with Autotask Corp.

Datto created $618.7 million in income in the fiscal calendar year 2021, growing 19.3% year over year.

The deal is predicted to shut in the second half of the yr.

Sign up now for Free of charge unrestricted accessibility to Reuters.com

Reporting by Sohini Podder in Bengaluru and Krystal Hu in New York Editing by Anil D’Silva, Aditya Soni and Leslie Adler

Our Expectations: The Thomson Reuters Believe in Rules.