Kaseya Acquires Datto for $6.2 Billion – Assist Internet Safety

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Kaseya and date introduced that they’ve reached a definitive settlement for Kaseya to amass Datto.

Kaseya Datto

The money transaction is funded by an fairness syndicate led by Perception Companions, with important investments from TPG Capital and Temasek and participation from well-known traders together with Sixth Road.

Underneath the phrases of the settlement, Datto shareholders will obtain $35.50 per share in a transaction that values ​​Datto at roughly $6.2 billion. The providing represents a 52% premium to Datto’s unchanged share worth of $23.37 as of March 16, 2022. This deal additionally represents a 48% premium to the 30-day unaffected volume-weighted common worth of Datto inventory for the Interval till March 16, 2022.

“That is thrilling information for Kaseya’s world prospects, who can anticipate extra purposeful, revolutionary and built-in options on account of the acquisition,” mentioned Fred Voccola, Kaseya CEO. “Datto has a legendary dedication to its prospects and staff. The alignment of our missions and focus makes us a pure match that may assist our valued prospects attain new ranges of success.” Voccola continued, “Kaseya is understood for our excellent monitor file of sustaining firms’ manufacturers and cultures, that we purchase and bettering product high quality. We could not be extra excited for what lies forward – Kaseya and Datto can be higher collectively to serve our prospects.”

“Datto has at all times strived to develop best-in-class know-how for SMBs and ship it by way of our world community of MSPs to align our development with the channel. The mixture with Kaseya brings collectively a broader vary of know-how merchandise to create extra alternatives for MSPs,” mentioned Tim Weller, CEO of Datto. “I am inspired by the continued funding within the fast-growing world MSP neighborhood, and this transaction is one other essential endorsement for the channel.”

“At Perception Companions, we associate with main IT infrastructure applied sciences that outline and develop their markets by way of best-in-class software program, knowledge and innovation,” mentioned Michael Triplett, Managing Director at Perception Companions. “We’re excited to proceed supporting Kaseya, an industry-defining IT and safety infrastructure administration firm, as they deepen their help for the {industry} and improve their prospects’ expertise.”

permits and timing

The transaction, which is at the moment anticipated to shut within the second half of 2022, is topic to the satisfaction of customary closing circumstances, together with receipt of relevant regulatory approvals. Along with the unanimous approval of the board of administrators, shareholders who collectively maintain roughly 70% of Datto’s issued and excellent frequent shares have authorised the transaction by written consent.

No additional motion by different Datto shareholders is required to approve the transaction. Upon completion of the transaction, Datto’s frequent inventory can be delisted from the New York Inventory Alternate.

The businesses will function utterly independently till the transaction closes.

Advisor

Evercore acted as monetary advisor to Kaseya and Willkie Farr & Gallagher LLP acted as authorized advisor to Kaseya. Qatalyst Companions acted as monetary advisor to Datto and Kirkland & Ellis LLP acted as authorized advisor to Datto.

Financing for the transaction is offered by Golub Capital, Blackstone Credit score, Ares Administration Credit score Funds, Owl Rock Capital, Oak Hill Advisors and Carlyle World Credit score. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as monetary counsel for Kaseya. Davis Polk & Wardwell LLP acted as authorized counsel on the funding sources. Ropes & Grey LLP acted as authorized counsel to TPG and Sixth Road. Sullivan & Cromwell LLP acted as authorized counsel to Temasek.

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