202211 Apr

Software maker Datto to be taken private by Kaseya for $6.2 bln


REUTERS/Dado Ruvic April 11 (Reuters) - Cybersecurity software provider Datto (MSP.N) said on Monday it would be taken private by security software company Kaseya for $6.2 billion in an all-cash deal funded by a consortium led by private equity firm Insight Partners. The deal offers $35.50 per share in cash to Datto shareholders, a nearly 52% premium to the companys closing price on March 16 before a media report said the software maker was exploring options, including a sale. The take-private offer came less than two years since Vista Equity-backed Datto went public on the New York Stock Exchange in October 2020 at $27 per share. Founded in 2007, Datto makes security and cloud-based software for managed service providers for small and medium-sized businesses. Reporting by Sohini Podder in Bengaluru and Krystal Hu in New York; Editing by Anil DSilva, Aditya Soni and Leslie Adler

Source: Reuters