By Sam Boughedda
Investing.com — Datto Holding Corp (NYSE:) announced on Monday that it has agreed to be acquired by Kaseya, sending its shares up 20%.
Kaseya will pay $35.50 per share for cybersecurity firm Datto, with the deal valuing the company at approximately $6.2 billion. This is a 52% premium compared to Datto’s stock price of $23.37 on March 16th.
The acquisition will be funded by a consortium led by Insight Partners and will be an all-cash transaction. In addition, TPG Capital and Temasek will also contribute a significant investment.
“Combining with Kaseya brings together a broader array of technology products to create additional opportunities for MSPs,” said Tim Weller, CEO of Datto.
”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 deal is expected to close in the second half of 2022.