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Software Maker Datto to Be Bought by Kaseya for $6.2 Billion

  • Datto’s shares rose more than 20% on the merger news
  • All-cash deal funded with investment from Insight, TPG
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Kaseya Ltd. has agreed to buy software maker Datto Holding Corp. in a deal valued at about $6.2 billion.

The offer of $35.50 per share represents a 52% premium to Datto’s stock price of $23.37 as of March 16, the company said in a statement on Monday. The all-cash transaction will be funded by an equity consortium led by Insight Partners Inc., with investment from TPG Capital and Temasek. Private equity firm Vista Equity Partners owned 69% of Datto’s shares as of Dec. 31, according to data compiled by Bloomberg.