Security software solutions firm Datto has inked an agreement to be acquired by IT management firm Kaseya for $6.2 billion, according to a statement.
- Under the deal, Datto stockholders will receive $35.50 per share, representing a 52% premium to the $23.37 stock price as of March 16, 2022. It also reflects a 48% premium to the unaffected 30-day volume-weighted as of March 16, 2022.
- The transaction will be made fully in cash, funded by an equity consortium led by Insight Partners. It will have significant investment from TPG and Temasek, along with participation from other investors such as Sixth Street.
- The deal is expected to be finalized in the second half of the year, subject to regulatory approval. Datto’s common stock will no longer be listed on the New York Stock Exchange upon completion.
Datto Chief Executive Tim Weller said the transaction will bring about a broader array of technology products catering to managed service providers. MSP is up 20.23%.