Datto completes sale to Kaseya

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AUSTIN, Texas–(BUSINESS WIRE)–March 23 June 2022–

Vista Equity Partners (“Vista”), a leading global investment firm focused solely on enterprise software, data and technology-enabled companies, today announced that Datto, a market-leading global provider of security and cloud-based software solutions purpose-built for MSPs, in which Vista holds a controlling interest, has completed the sale to Kaseya for $35.50 per share, valuing the company at $6.2 billion.

Vista acquired Datto in 2017, simultaneously merging the company with Autotask Corporation, a Vista Foundation Fund portfolio company. Since Vista’s investment five years ago, the company has worked with Datto’s founding and management team to accelerate organic growth across the business by implementing best practices in sales, customer acquisition and customer experience. In that time, Datto has grown into one of the largest pure-play MSP technology companies; more than doubling annual revenue to $620 million, growing headcount from just over 800 to over 2,000, and growing the MSP customer base to over 19,000. Vista took Datto public in 2020 and retained a majority stake in the public company.

“The previously announced transaction represents an optimal outcome for all investors and stakeholders while providing a solid foundation for Datto’s future growth,” said Monti Saroya, Chairman of the Board of Datto and Co-Head of the Vista Flagship Fund. “Vista is proud and grateful for the close partnership with Datto since our initial investment in late 2017, supporting Datto on its organic growth initiatives and on select acquisitions, as well as implementing operational best practices. Looking ahead, Datto looks forward to working with Kaseya to further penetrate the fast-growing global MSP market.”

Qatalyst Partners acted as financial advisor to Datto and Kirkland & Ellis LLP acted as legal advisor to Datto.

About Vista Equity Partners

Vista is a leading global investment firm with $96 billion in assets under management as of March 31, 2022. Investing exclusively in enterprise software, data and technology-enabled organizations through private equity, permanent equity, credit and public equity strategies, the firm brings an approach focused on creating enduring market value to benefit its global ecosystem of investors, corporations, Prioritize customers and employees. Vista’s investments are backed by a substantial long-term capital base, experience structuring technology-driven transactions, and proven, flexible management techniques that foster sustainable growth. Vista believes the transformative power of technology is the key to an even brighter future – a healthier planet, a smarter economy, a diverse and inclusive community, and a broader path to prosperity. For more information, see vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partnersand on Twitter, @Vista_Equity.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220622006077/en/

CONTACT: Brian W Steel

media@vistaequitypartners.com

+1-512-730-2400

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: FINANCE PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES TECHNOLOGY SOFTWARE

SOURCE: Vista Equity Partners

Copyright Business Wire 2022.

PUB: 06/23/2022 09:25 / DISC: 06/23/2022 09:25

http://www.businesswire.com/news/home/20220622006077/en

Copyright Business Wire 2022.

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