Cooley advised data protection company Datto on the deal
Datto, the leading provider of total data protection solutions for businesses around the world, has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading investment firm focused on software, data and technology-enabled businesses. The acquisition combines 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 organizations 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.
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.
Cooley advised Datto with a team including Miguel J. Vega (Picture), Jacqueline Grise, Megan Browdie, Mike Herring, Matt Ruderman, Tom Pfalzer, Alfred Browne, Ron Hopkinson, David Silverman, Patrick Flanagan, Taz Hassonjee, Layne Jacobs, Pat Argenio, William Corcoran, Jonathan Rivinus, Kevin King, Karen Tsai, Eric Tobias, Kelsey Velemirovich, Britton Davis, Randy Sabett, Joshua Friedman and Mary Maher Lewis.
Involved fees earner: Miguel Vega – Cooley LLP; Matt Ruderman – Cooley LLP; Tom Pfalzer – Cooley LLP; Alfred Browne – Cooley LLP; Ron Hopkinson – Cooley LLP; David Silverman – Cooley LLP; Taz Hassonjee – Cooley LLP; Layne Jacobs – Cooley LLP; Patrick Argenio – Cooley LLP; Jacqueline Grise – Cooley LLP; Megan Browdie – Cooley LLP; Mike Herring – Cooley LLP; Patrick Flanagan – Cooley LLP; William Corcoran – Cooley LLP; Jonathan Rivinus – Cooley LLP; Kevin King – Cooley LLP; Karen Tsai – Cooley LLP; Eric Tobias – Cooley LLP; Randy Sabett – Cooley LLP; Kelsey Velemirovich – Cooley LLP; Britton Davis – Cooley LLP; Joshua Friedman – Cooley LLP; Mary Maher Lewis – Cooley LLP;
Law Firms: Cooley LLP;
Clients: Datto Inc.;