Datto Holding (MSP) began trading on the NYSE on Wed 22 Oct 20

• Vista Equity Partners acquired Datto in 2017 for $1.3 billion and merged the company with Autotask. Vista will own 70.7% of Datto after the IPO, while Austin McChord, Datto’s founder, will have 13%. 

Datto Holding (MSP) priced 22 mln share IPO at $27.00 per share, at the top end of the expected range of $24-27

Datto Holding, a backup-software company backed by Vista Equity Partners, priced at the high end of its initial public offering range, collecting roughly $550 million.

Late Tuesday, Datto sold 22 million shares at $27 each, the top of its $24 to $27 price range. Datto started trading Wednesday on the New York Stock Exchange under the symbol MSP.

Morgan Stanley, BofA Securities, Barclays and Credit Suisse are underwriters on the deal.

Datto is the latest software company to go public. Both Asana(Ticker: ASAN), which offers cloud-based project-management software, and Snowflake(SNOW), a cloud software company, made their debuts in late September. McAfee, the cybersecurity company, is expected to price its offering Wednesday night and begin trading on Thursday.

Founded in 2007, Datto provides business-continuity software, including backup and disaster recovery, that helps companies secure their data. Datto’s software is delivered through a managed-service-provider, or MSP, channel to small and medium-size businesses. The company had 17,000 MSP partners as of June 30, according to its prospectus. Datto said it helped restore more than 200 million software as a service objects in 2020, the prospectus said.

The company reported $10.1 million in profit for the six months ended June 30 on $249.1 million in revenue. This compares with $25.7 million in losses a year earlier on $215 million in revenue. Long-term debt stood at $577 million as of June 30. It has 1,653 employees as of June 30.

With 157,548,740 shares outstanding, Datto has a roughly $4.3 billion market cap, at $27 a share.

Vista Equity Partners acquired Datto in 2017 for $1.3 billion and merged the company with Autotask. Vista will own 70.7% of Datto after the IPO, while Austin McChord, Datto’s founder, will have 13%.

The Datto IPO comes just days since Robert Smith, Vista’s CEO, reached a $140 million settlement with the Justice Department, the Wall Street Journal reported. The nonprosecution agreement ends a yearslong U.S. tax investigation and calls for Smith to admit tax fraud as well as not properly filing foreign bank account reports, according to the Journal. Brian Sheth, Vista’s president and co-founder, is now looking to leave the firm, according to media reports.

Mindbody (MB) to be acquired by Vista Equity Partners for $1.9 billion

Vista will acquire all outstanding shares of MINDBODY common stock for a total value of approximately $1.9 billion. MINDBODY shareholders will receive $36.50 in cash per share, representing a 68% premium to the unaffected closing price as of December 21, 2018.

  

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Ticker: MB

Mindbody Inc. (MB) announced Monday a deal to be acquired by San Francisco-based private equity firm Vista Equity Partners in a deal valued at $1.9 billion. Shares of the technology platform for the fitness, beauty and wellness industries were inactive prior to a trading halt for news, which is set to be lifted at 8:30 a.m. Under terms of the deal, Vista will pay $36.50 in cash for each Mindbody share outstanding, representing a 68% premium to Friday's closing price of $21.72. The deal is expected to close in the first quarter of 2019, and includes a 30-day "go-shop" period in which Mindbody can solicit other acquisition proposals. Mindbody's stock has tumbled 49% over the past three months through Friday, while the S&P 500 (SPX) has shed 17%.

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death cross (daily)

Infoblox (BLOX) to be acquired by Vista Equity Partners

• Infoblox (BLOX) to be acquired by private equity firm Vista Equity Partners for $1.6 billion or $26.50 per share. (19 Sept 2016)

    

  

Marketo (MKTO) acquired by Vista Equity Partners for $35.25 in per share

• Marketo (MKTO) acquired by private equity firm Vista Equity Partners for $1.79 billion. (June 2016)

    

SAN MATEO, Calif., May 31, 2016 /PRNewswire/ -- Marketo, Inc. (NASDAQ: MKTO), the leading provider of engagement marketing software and solutions, today announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners ("Vista"), a leading private equity firm focused on investments in software, data and technology-enabled businesses.

The terms of this all-cash deal provide substantial value to Marketo shareholders. Vista will acquire all outstanding shares of Marketo common stock for a total value of approximately $1.79 billion. Marketo shareholders will receive $35.25 in cash per share, representing a 64% premium to the unaffected closing price as of May 9, 2016.

"After careful consideration and deliberation, our Board of Directors unanimously concluded that the sale of Marketo to Vista Equity Partners was in the best interest of Marketo and its shareholders," said Phil Fernandez, chairman and CEO of Marketo. "The acquisition will allow Marketo to continue to focus on customer success and to remain the independent category leader, continuing to set the agenda for product innovation and thought leadership for the entire digital marketing industry. It will also enable us to successfully deliver on the bold vision we recently set forth – to give tomorrow's marketers and the C-suite an ultra-high-scale enterprise platform for customer engagement."

"Marketo is the clear leader in the marketing automation space and has consistently delivered innovative mission critical products to its more than 4,600 customers," said Brian Sheth, co-founder and president of Vista. "Given our proven track record and focus on investing in high-growth SaaS platforms, we are thrilled to partner with Phil and the broader Marketo team to help the company accelerate innovation, growth, and excellence."

Marketo headquarters will remain in San Mateo. Closing of the deal is subject to customary closing conditions, including the approval of Marketo shareholders and antitrust approval in the United States. The transaction is expected to close in the third quarter of 2016.

Morgan Stanley is serving as financial advisor to Marketo, and Wilson Sonsini Goodrich & Rosati is serving as legal advisor to Marketo. Vista's legal advisor is Kirkland & Ellis LLP.

About Marketo
Marketo provides the leading engagement marketing software and solutions designed to help marketers develop long-term relationships with their customers - from acquisition to advocacy. Marketo is built for marketers, by marketers and is setting the innovation agenda for marketing technology. Marketo puts Marketing First. Headquartered in San Mateo, CA, with offices around the world, Marketo serves as a strategic partner to large enterprise and fast-growing small companies across a wide variety of industries. To learn more about Marketo's Engagement Marketing Platform, LaunchPoint® partner ecosystem, and the vast community that is the Marketo Marketing Nation®, visit www.marketo.com.

About Vista Equity Partners
Vista, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with over $24 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.

Greenway Medical (GWAY) started trading on the NYSE on Feb 2, 2012

• November 2013: Greenway Medical was acquired by Vista Equity Partners for $20.35 per share or approximately $644 million. It was combined it with Vista Equity Partners' Vitera and SuccessEHS, rebranding them as Greenway Health. The combined company is privately held and operates under the Greenway brand. Tee Green, Greenway’s CEO, maintains that position. Vitera’s CEO, Matthew J. Hawkins, serves as President. Both serve on Greenway’s board of directors.