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Kaseya closes acquisition of Datto for $6.2bn

Kaseya has announced it has completed its acquisition of MSP service provider Datto for $6.2bn.The completion of the deal, which was first announced back in April, means Datto's stock has ceased trading and the company is no longer listed on any public market.The transaction also means the list pricing on all Datto technology will be reduced by on average by 10 per cent or more on new purchases.Some products' list prices will come down more than that, while others might remain the same, Kaseya said."With this pricing adjustment, Kaseya continues to provide the only purpose-built platform for the MSP that is priced right," a company statement said.Kaseya CEO Fred Voccola added: "As we promised when we announced our intent to buy Datto, customers are going to see investment in innovation and integrations go up and prices come down."We are increasing our technical investment in our products to ensure that every one of them will be supported and integrated, with enhanced functionality. The end goal is to be the most affordable and best option on the market for our awesome customers."Prior to the deal being complete, Voccola told CRN that Kaseya wants to "embrace Datto's culture" and that the brand "is going nowhere".As part of the deal, Datto will continue to operate as an autonomous brand from Norwalk, Connecticut and other locations, with Kaseya's official global headquarters in Miami.Kaseya announced that at least 17 workflow integrations are planned within the first month, and 100 per cent of commercial integrations are anticipated to be completed within 120 days."I want to reiterate - we bought Datto because we think they're awesome," Voccola added."Their world-class products, highly-regarded brand, innovative culture and amazing people - we have no intention of messing up any of that. We will build on what they created so in the end, MSPs will get the maximum value from their solutions at an affordable price."The deal represents a share price of $35.50, with Kaseya adding that customers can "immediately expect substantial investments focused on upgrades and innovations to all Datto product offerings".Rob Rae, Datto's senior vice president of business development, said: "This is absolutely the best thing that could have happened to Datto, our employees and most importantly our MSP Partners.""Datto has always been committed to building great technology and creating a culture where its MSPs customers always come first —and as part of Kaseya, we will be able to do this bigger, better, and at lower cost to the MSP."

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Author: Cowen)

Publish Date: 23/06/2022 16:48

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