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Benzinga
Benzinga
Business
Anusuya Lahiri

Why Datto Shares Are Trading Higher Today

MSP (Organization) Kaseya Insight Partners NYSE Sixth Street (Organization) Temasek TPG Capital
  • Kaseya agreed to acquire Datto Holding Corp (NYSE:MSP) for $35.50 per share in an all-cash transaction that valued Datto at $6.2 billion.
  • The offer represented a 52% premium to Datto's unaffected stock price on March 16.
  • An equity consortium led by Insight Partners, with significant investment from TPG Capital and Temasek and participation from notable investors, including Sixth Street, looked to fund the transaction.
  •  Datto was a leading global provider of security and cloud-based software solutions purpose-built for MSPs.
  • Kaseya is a premier provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBs).
  • Price Action: MSP shares traded higher by 21% at $34.75 in the premarket on the last check Monday.
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