Kaseya has acquired Datto in an all-cash transaction worth $6.2bn. The deal is an “important validation of the channel”, according to Datto CEO Tim Weller.
He said: “Combining with Kaseya brings together a broader array of technology products to create additional opportunities for MSPs.
“I’m encouraged by the continued investment in the rapidly-expanding global MSP community, and this transaction is another important validation of the channel.”
The acquisition will be funded by an equity consortium led by Insight Partners with investment from TPG and Temasek and participation from Sixth Street.
The transaction is currently expected to close in the second half of 2022, at which time Datto will be de-listed from the New York Stock Exchange.
“This is exciting news for Kaseya’s global customers, who can expect to see more functional, innovative and integrated solutions as a result of the purchase,” said Fred Voccola (pictured), Kaseya’s CEO.
The acquisition points to further consolidation in the space, following Datto’s acquisition of Infocyte earlier this year.
Datto stockholders will receive $35.50 per share in a transaction which values Datto at approximately $6.2 billion.