Datto To Be Taken Private By Kaseya In $6.2 Bln All-cash Deal

(RTTNews) - Kaseya, a premier provider of unified IT management and security software, and security and cloud-based software firm Datto (MSP) announced Monday that they have entered into a definitive agreement for Kaseya to acquire Datto for $35.50 per share in a transaction that values Datto at approximately $6.2 billion.

The all-cash transaction will be funded by an equity consortium led by Insight Partners, with significant investment from TPG Capital and Temasek, and participation from notable investors including Sixth Street.

The offer represents a 52% premium to Datto's unaffected stock price of $23.37 as of March 16, 2022.

The transaction, which is currently expected to close in the second half of 2022, is subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals. The companies will operate completely independently until the transaction has been finalized.

In addition to unanimous board approval, shareholders holding in aggregate approximately 70% of the issued and outstanding shares of common stock of Datto have approved the transaction by written consent.

No further action by other Datto shareholders is required to approve the transaction. Upon completion of the transaction, Datto's common stock will no longer be listed on the New York Stock Exchange.