Software maker Datto said it would be taken private by security software company Kaseya for $6.2 billion in a deal funded by a consortium led by private equity firm Insight Partners.
The deal offers $35.50 per share in cash to Datto shareholders, a nearly 52 percent premium to the company’s closing price on March 16 before a media report said the software maker was exploring options, including a sale.
The purchase by Kaseya is also supported by investments from TPG Capital, Sixth Street Partners and Singapore state investor Temasek, among others.
Datto makes security and cloud-based software for small and medium businesses and specifically for managed service providers.
