- Kaseya agreed to acquire Datto Holding Corp MSP for $35.50 per share in an all-cash transaction that valued Datto at $6.2 billion.
- The offer represented a 52% premium to Datto's unaffected stock price on March 16.
- An equity consortium led by Insight Partners, with significant investment from TPG Capital and Temasek and participation from notable investors, including Sixth Street, looked to fund the transaction.
- Datto was a leading global provider of security and cloud-based software solutions purpose-built for MSPs.
- Kaseya is a premier provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBs).
- Price Action: MSP shares traded higher by 21% at $34.75 in the premarket on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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