Datto’s Next Chairman: Cisco Systems and Siebel Veteran Maneet Saroya
Once Datto launches its IPO (initial public offering), the MSP technology provider’s chairman will be Maneet S. Saroya of Vista Equity Partners, according to an October 19 SEC filing. Both Datto CEO Tim Weller and founder Austin McChord will also remain on Datto’s board, the filing says.
Saroya has served on Datto’s board since December 2017. He joined Vista in 2008, and is co-head of the Vista Flagship Fund and sits on the Vista Flagship Funds’ Investment Committee. Prior to joining Vista, Saroya was a senior research analyst for JMP Securities. Earlier, he held key posts at Siebel Systems (acquired by Oracle in 2005) and Cisco Systems.
Also of note: Vista co-founder Brian Sheth is stepping down from Datto’s board (he’s also apparently leaving the private equity firm), while Vista COO David Breach will join the board.
The Datto IPO, which will likely occur sometime this week, will seek to raise about $600 million at a valuation of about $3.8 billion to $4.25 billion.