Home Banking & Finance Datto launches IPO

Datto launches IPO

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Datto Inc., a Norwalk-based provider of cloud-based software and technology products delivered through managed service providers, has announced the launch of its initial public offering.

The company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for the IPO two weeks ago. The IPO will make 22 million shares of Datto common stock available, and the company intends to grant the underwriters a 30-day option to purchase up to an additional 3.3 million shares of common stock.

The IPO price is expected to be between $24 and $27 per share and Datto will be listed on the New York Stock Exchange under the ticker symbol “MSP.”

Datto was founded in 2007 by software programmer Austin McChord and was acquired 10 years later by Autotask, a Vista portfolio company that provides cloud-based IT business management platform solutions. Datto operates offices in the Canada, the U.K., Netherlands, Denmark, Germany, Australia, China and Singapore.

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