IT management software company Kasia has announced that it has entered into a definitive agreement to achieve disaster recovery (opens in new tab) and cloud backup (opens in new tab) Provider Datto which will be taken private after completion of acquisition.
The all-cash transaction will be funded by an equity consortium led by Insight Partners (opens in new tab) With significant investments from TPU and Temasek and participation from other investors including global investment firm Sixth Street.
As Kasia CEO Fred Vokola explained in a press release (opens in new tab) Announcing the deal that the Datto brand and its culture will remain intact, saying:
“This is exciting news for Kasia’s global customers, who can expect to see more functional, innovative and integrated solutions as a result of the purchase. Datto has a great commitment to its customers and employees. The alignment of our mission and focus allows us to Creates naturally fit, which will help our highly acclaimed clients reach new levels of success.Kaseya We have acquired the companies brand and cultures we have acquired due to our excellent track record of supercharging product quality We couldn’t be more excited about what’s in front of us – Kasia and Datto will be better together at serving our customers.
Creating additional opportunities for MSP
Under the terms of the agreement, Datto (opens in new tab) Shareholders will receive $35.50 per share as part of Kasia’s efforts to take the company private.
Not only is this value worth Datto approximately $6.2bn, but it also represents a 52 percent premium to the company’s unaffected stock price of $23.37 as of March 16 of this year. Also, the deal represents a 48 percent premium to the unaffected 30 day volume weighted average price of Datto stock for the period ending this date.
Datto CEO Tim Weller said in a statement that combining its range of technology products with Kasia will create additional opportunities for managed service providers (MSPs). (opens in new tab),
The acquisition is expected to close during the second half of 2022 following customary closing terms and regulatory approvals. Going forward, both the companies will continue to operate completely independently till the transaction is finalised.