As the Chief Executive Officer of Kaseya, Fred Voccola is adamant that his company doesn’t buy other businesses to simply shut them down – rather, it’s to strengthen Kaseya’s own capabilities. To that end, the firm is acquiring cybersecurity and data backup company Datto in an all-cash deal worth $6.2 billion. The CEO calls Datto an “awesome company,” and asserts that his company has no intent to change that.
Founded in 2000, Kaseya is a leading provider of IT and security management solutions for managed service providers (MSPs), owned by Insight Partners and headquartered in Miami. The acquisition will be funded by an equity consortium led by Insight Partners, with investments from TPG, Temasek, and Sixth Street Partners, according to a press release.
Voccola has more than 25 years of experience in the tech world and has led Kaseya since 2015. Since its founding, the firm has acquired several other companies, including IT Glue and RapidFire Tools, and has routinely invested in growing its acquisitions and focusing on the strengths of each one. The CEO cites his company’s reputation for supporting R&D and keeping subsidiaries competitive as evidence of Datto’s bright future as part of Kaseya.