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Enterprise-Grade Software Creator DATTO HOLDING Raised $594 Million

Esther Thin

Datto Holding, a Norwalk enterprise-grade software creator, raised $594 million by offering 22 million ADSs at $27, above the proposed range of $24 to $27.

The company is a provider of cloud-based software and technology solutions purpose-built for delivery through the managed service provider channel to small and medium businesses.

The Norwalk, Connecticut-based company was founded in 2007 and booked $493 million in sales for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol “MSP.” Morgan Stanley, BofA Securities, Barclays, Credit Suisse, Citi, Jefferies, RBC Capital Markets, Evercore ISI, BMO Capital Markets, and Macquarie Capital are underwriters of the IPO.

The company engages Kirkland & Ellis LLP as US Securities Counsel, and Ernst & Young LLP as Independent Auditor.

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