202224 Jun

Kaseya closes $6.2 billion Datto deal, vows to cut prices

Summary

The companys public messaging about the Datto deal emphasized impending price cuts—an average of 10% across the board, according to Kaseya. "I want to reiterate—we bought Datto because we think theyre AWESOME – their world-class products, highly-regarded brand, innovative culture and amazing people – we have no intention of messing up any of that," he said. "[I]n the end, MSPs [managed service providers] will get the maximum value from their solutions at an affordable price." The company suffered a highly publicized ransomware attack in July 2021 that affected thousands of businesses contracting with MSPs worldwide, which tarnished its reputation somewhat, and MSPs are paying close attention to the deal and its potential fallout. Its not Dattos first time in the mergers and acquisitions spotlight—the companys 2017 merger with Autotask represented a substantial shakesecrup of the MSP market, and it was subsequently acquired by investment firm Vista Equity Partners, before being listed on the New York Stock Exchange in October 2020.

Source: Csoonline

Funding

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Amount
Aug 08 2022
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Classifications

Companies