Datto Completes Sale to Kaseya
Vista Equity Partners ("Vista"), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses, today announced that Datto, a market-leading global provider of security and cloud-based software solutions purpose-built for MSPs, in which Vista holds a majority stake, has completed its sale to Kaseya for $35.50 per share valuing the company at $6.2 billion.
Vista acquired Datto in 2017 and simultaneously merged the company with Autotask Corporation, a Vista Foundation Fund portfolio company. Since Vista's investment five years ago, the company has partnered with Datto's founder and management team to accelerate organic growth across the enterprise by implementing best practices across sales, customer acquisition and customer experience. In that time, Datto has grown to become one of the largest pure-play MSP technology companies; more than doubling annual revenue to $620 million, increasing employee headcount from just over 800 to more than 2,000 and growing its MSP customer base to more than 19,000. Vista proceeded to take Datto public in 2020, retaining a majority ownership stake in the public company.
"The previously announced transaction reresents an optimal outcome for all investors and stakeholders, while providing a solid foundation to support Datto's future growth," said Monti Saroya, Chairman of Datto's Board of Directors and Co-Head of the Vista Flagship Fund. "Vista is proud and thankful for the close partnership with Datto since our initial investment in late 2017, supporting Datto in its organic growth initiatives and with select acquisitions, as well as with the implementation of operational best practices. Looking ahead, Datto is excited to be collaborating with Kaseya to further penetrate the rapidly expanding global MSP market."
Qatalyst Partners acted as financial advisors to Datto and Kirkland & Ellis LLP acted as Datto's legal advisor.
About Vista Equity Partners
Vista is a leading global investment firm with $96 billion in assets under management as of March 31, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista's investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future - a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.