6 Firms Assist As Datto Goes Private In $6.2B Deal

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By Benjamin Horney (April 11, 2022, 11:40 AM EDT) — Private equity-backed Kaseya will buy fellow cloud-based software company Datto, which provides cybersecurity and data backup services to small- and medium-sized businesses, in a deal that’s valued at $6.2 billion and was driven by six law firms, the companies said Monday.

Under the terms of the all-cash agreement, Miami, Florida-headquartered Kaseya Ltd. will buy Norwalk, Connecticut-based Datto for $35.50 per share, or a 52% premium over the target’s unaffected stock price on March 16, according to a statement.

The deal will be paid for by a consortium that is led by Insight Partners, with significant investment from TPG Capital and Temasek,…

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