Data protection solutions provider Datto today announced it has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), an investment firm focused on software, data and technology-enabled businesses.
The acquisition combines the backup and disaster recovery solutions with Vista's strategic and operational expertise for supporting high-growth technology companies. Datto develops business continuity solutions that secure business data for over 100,000 companies around the world.
Its suite of services includes backup and disaster recovery, cloud-to-cloud backup services for SaaS applications and network continuity services. Vista's simultaneous acquisition of Datto and merger with existing Vista portfolio company Autotask immediately provides opportunities for the IT channel.
The combination of Autotask's market leading IT management solutions with Datto's data protection solutions creates a single provider able to meet the needs of managed service providers and IT Service Providers from operations through service delivery, including professional services automation, backup and disaster recovery, networking continuity, file sync and share, and remote monitoring and management.
The combined organisations have approximately 1,300 employees with offices in nine countries.
Their nearly 13,000 customers service more than 500,000 SMBs in 125 countries worldwide.
“We're thrilled to bring together the complementary skills and world-class service of two global market leaders, Autotask and Datto," says Brian Sheth, of Vista Equity Partners co-founder and president.
"Over the past three years, we have worked closely with the Autotask team to accelerate growth and expand its Unified Platform. Bringing Autotask together with Datto's impressive talent and deep expertise in backup and networking solutions will take us to the next level and deliver extraordinary tools and services to MSPs worldwide."
“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 essential tools for the MSP space,” says Austin McChord, Datto founder and CEO.
“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 a set of capabilities for them to serve millions of small businesses in the future.
Mark Cattini, Autotask president and CEO, says, “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 Datto founder and chief executive officer Austin McChord as CEO.
Autotask CEO Mark Cattini will continue to work closely with McChord and the combined team as a strategic advisor 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.