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Benzinga

Business

Adam Eckert

HISTORICAL FACTS: Why datto holding shares are rising today - Caught on Camera

Datto Holding Corp (NYSE:MSP) shares are trading higher Monday after the company announced it will be acquired by IT management and security software provider Kaseya for approximately $6.2 billion.

The companies entered into a definitive agreement in which Kaseya will acquire Datto for $35.50 per share in cash. The all-cash transaction will be funded by an equity consortium led by Insight Partners, with significant investment from TPG Capital and Temasek.

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