Datto Holding Corp. (MSP) is planning to raise $561 million in an IPO on Wednesday, October 21st, IPO Scoop reports. The company will issue 22,000,000 shares at a price of $24.00-$27.00 per share.
In the last twelve months, Datto Holding Corp. generated $493 million in revenue and $4.6 million in net income. Datto Holding Corp. has a market cap of $4 billion.
Morgan Stanley, BofA Securities, Barclays and Credit Suisse served as the underwriters for the IPO and Citigroup, Jefferies, RBC Capital Markets, Evercore ISI, BMO Capital Markets, Macquarie Capital, Mizuho Securities, William Blair, Ramirez & Co. and Siebert Williams Shank were co-managers.
Datto Holding Corp. provided the following description of their company for its IPO: “Our mission is to create enterprise-grade technology for small and medium businesses delivered through our growing, global network of managed service provider partners. Datto is the leading provider of cloud-based software and technology solutions purpose-built for delivery through the managed service provider, or MSP, channel to small and medium businesses, or SMBs. Our platform enables our 17,000 MSP partners to manage and grow their businesses serving the SMB information technology, or SMB IT, market. Our platform also combines mission-critical cloud-based software, technologies and security solutions that MSPs sell to SMBs, business management software to help MSPs scale their own businesses and marketing tools, content, training and industry-leading events that cultivate an empowered and highly engaged MSP partner community. “.
Datto Holding Corp. was founded in 2007 and has 1600 employees. The company is located at 101 Merritt 7 Norwalk, CT 06851 and can be reached via phone at 888-995-1431 or on the web at http://www.datto.com.
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