Datto MSP Tech company to be taken private by Kaseya in $6 billion deal.
All cash transaction.
The all-cash transaction will be funded by an equity consortium led by Insight Partners(opens in new tab) along with significant investment from TPU and Temasek and participation from other investors including the global investment firm Sixth Street.
Kaseya CEO Fred Vocolla explained in a press release(opens in new tab) announcing the deal that the Datto brand and its culture will remain intact, saying:
Creating additional opportunities for MSPs.
Under the terms of the agreement, Datto(opens in new tab) stockholders will receive $35.50 per share as part of Kaseya’s efforts to take the company private.
Not only does this price value Datto at approximately $6.2bn but it also represents a 52 percent premium to the company’s unaffected stock price of $23.37 as of March 16 of this year. At the same time, the deal represents a 48 percent premium to the unaffected 30 day volume weighted average price of Datto stock for the period ending on this date.
What CEO Timm Weller says about the acquisition.
With combining its array of technology products with those of Kaseya will create additional opportunities for Managed Service Providers.
The acquisition is expected to close during the second half of 2022 following customary closing conditions and regulatory approval. Going forward, both companies will continue to operate completely independently until the transaction has been finalized.