PCR Tech and IT retail, distribution and vendor news
Business data protection solutions provider Datto has today announced that it is to be aquired by a leading investment firm.
Vista Equity Partners, which focues on ssoftware, data and technology-enabled businesses, has agreed to purchase Datto in an effort to combine the leading 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 (“BDR”), 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 significant opportunities for the IT channel. The combination of Autotask’s market leading IT management solutions with Datto’s award-winning data protection solutions creates a single provider able to meet the needs of Managed Service Providers (“MSPs”) and IT Service Providers (“ITSPs”) from operations through service delivery, including professional services automation (“PSA”), backup and disaster recovery, networking continuity, file sync and share, and remote monitoring and management (“RMM”). 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," said Brian Sheth, co-founder and president of Vista Equity Partners. "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 honored 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” said Datto’s founder and CEO, Austin McChord. “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.”
“With the powerful combination of the Autotask Unified PSA-RMM platform and Datto’s industry leading business continuity solutions, together we can now deliver unprecedented innovation and unmatched levels of value and service to our customers and partners worldwide,” said Mark Cattini, president and CEO, Autotask. “This merger marks a natural step in our evolution as we continue to bring more managed serviceofferings 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 Austin 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. Terms of the deal will not be disclosed. Datto was advised by Morgan Stanley on the sale.
