Data protection firm Datto snapped up
Data protection company Datto has agreed to be acquired by Vista Equity Partners, a US-based investment firm focused on software, data and technology-enabled businesses.
Datto specialises in protecting business data and providing secure connectivity for tens of thousands of the fastest-growing companies in the world.
Its suite of services includes backup and disaster recovery (BDR), cloud-to-cloud backup services for SaaS applications and network continuity services.
The company has been purchased for an undisclosed sum and will be merged with Autotask, an existing Vista portfolio company.
The combination of Autotask's IT management solutions with Datto's data protection services will create a single provider able to meet the needs of managed service providers (MSPs) and IT service providers (ITSPs). The combined organisation will have approximately 1,300 employees with offices in nine countries.
“We’re honoured to be joining forces with both the world’s premier software investor, Vista Equity Partners, and with Autotask, the provider of the most essential tools for the MSP space,” Datto founder and chief executive Austin McChord said.
“This unique combination of talent with a track record of success marks a new chapter that will make an even bigger impact for our Managed Service Provider partners, by delivering an unprecedented set of capabilities for them to serve millions of small businesses in the future.”
Mark Cattini, president and CEO of Autotask, added: “This merger marks a natural step in our evolution as we continue to bring more managed service offerings to the channel. We look forward to using our combined scale to do even more to help our customers grow, succeed and increase profitability. We are excited to get going.”
A combined management team will lead the merged entity with Austin McChord as CEO. Mark Cattini will continue to work closely with Austin and the combined team as a strategic adviser to the board of directors.
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the fourth quarter of 2017.