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Kaseya-Datto: SEC Filing Reveals Private Equity Interest Behind The Scenes

Joseph F. Kovar

While Kaseya’s private equity owner was the first to reach out to Datto to talk about an acquisition, the timeline released by Datto via an SEC filing shows that several private equity companies were pursuing the company as well.

January 2022 

Evercore, which is a financial advisor to Insight Partners and TPG Global, on Jan. 3 contacted Monti Saroya, senior managing director at Vista Equity Partners and chairman of Datto’s board of directors, to say that Insight Partners and TPG Global might be interested in a transaction involving Datto. Saroya responded that indications of interest should be directed to Datto CEO Tim Weller (pictured).

On Jan. 10, a representative of a private equity firm referred to as “Party C” by Datto contacted Saroya on an unsolicited basis to express interest in acquiring Datto and was told to direct its proposal to Weller. Party C on Jan. 21 told Saroya it would submit a written proposal to acquire Datto and was told again to send any proposals to Weller.

On Jan. 23, Evercore told Saroya that Insight Partners and TPG Global remained interested and was continuing to look at publicly available information.

On Jan. 24, a Party C representative told Weller the company intended to submit a written proposal to do a transaction with Datto, and the following day Party C submitted a nonbinding written indication of interest to acquire all of Datto for $30 per share. Party C on Jan. 26 told Weller about its enthusiasm about such a transaction.

That same day, Evercore told Weller that Insight Partners and TPG Global were interested in a potential transaction for Datto and that they would submit a written proposal.

 
Joseph F. Kovar

Joseph F. Kovar is a senior editor and reporter for the storage and the non-tech-focused channel beats for CRN. He keeps readers abreast of the latest issues related to such areas as data life-cycle, business continuity and disaster recovery, and data centers, along with related services and software, while highlighting some of the key trends that impact the IT channel overall. He can be reached at jkovar@thechannelcompany.com.

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