Kaseya has acquired MSP service provider Datto in a deal valued at $6.2 billion.
Datto stockholders will receive $35.50 per share, valuing the MSP vendor at $6.2bn. The offer is a 52 percent premium on Datto’s unaffected stock price of $23.37 as of March 16 2022, and a 48 percent premium on the unaffected 30-day volume-weighted average price of Datto stock leading up to 16 March 2022.
Datto will be de-listed from the New York Stock Exchange once the transaction has completed. Datto raised $594 million in its IPO on the New York Stock Exchange in October 2020, reaching a valuation of $4 billion.
Kaseya CEO Fred Voccola said: “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. 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.”
Datto CEO Tim Weller added that the acquisition will create new opportunities for MSPs.
“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”, he said.
“I’m encouraged by the continued investment in the rapidly-expanding global MSP community, and this transaction is another important validation of the channel.”
In 2020, Datto confirmed that it planned to lay off an unspecified number of employees from its 1,700-strong workforce as a result of economic consequences from the pandemic.
At the time, Kaseya’s Voccola commented that he “was surprised that anyone in this sector is doing layoffs”, claiming that Kaseya was growing throughout the pandemic.
