Kaseya announced that it has completed the acquisition of MSP service provider Datto for $6.2 billion.
Closing the deal that came first already announced in Aprilmeans that Datto’s shares will no longer be traded and the company will no longer be listed on a public market.
The transaction also means list prices for all Datto technologies will be reduced by an average of 10 percent or more for new purchases.
List prices for some products will continue to decrease while others may stay the same, Kaseya said.
“With this price match, Kaseya continues to provide the only purpose-built platform for MSPs that is priced right,” the company said in a statement.
Fred Voccola, Kaseya CEO, added, “As we promised when we announced our intent to purchase Datto, customers will watch as investment in innovation and integration increases and prices fall.
“We are increasing our technical investment in our products to ensure each and every one of them is supported and integrated with enhanced functionality. The end goal is to be the most affordable and best option on the market for our amazing customers.”
Before the deal was finalized, Voccola said CRN that Kaseya wants to “take on the culture of Datto” and that the brand “going nowhere”.
As part of the agreement, Datto will continue to operate as a standalone brand from Norwalk, Connecticut and other locations, with Kaseya’s official global headquarters in Miami.
Kaseya announced that at least 17 workflow integrations are planned within the first month and 100 percent of commercial integrations are expected to be completed within 120 days.
“I want to reiterate – we bought Datto because we think they’re awesome,” added Voccola.
“Their world-class products, their highly respected brand, their innovative culture and their amazing people – we have no intention of screwing up any of it. We will build on what they created so that MSPs end up getting maximum value from their solutions at an affordable price.”
The deal represents a share price of $35.50, with Kaseya adding that customers “can expect significant immediate investments focused on upgrades and innovation across all Datto product offerings.”
Rob Rae, Datto’s senior vice president of business development, said, “This is absolutely the best thing that has happened to Datto, our employees and most importantly, our MSP partners.”
“Datto has always been committed to building great technology and creating a culture that always puts its MSPs’ customers first – and as part of Kaseya, we’ll be able to do that bigger, better, and less costs for the MSP to do.”
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