TPG Capital may acquire a minority stake in Kaseya, the IT management and MSP software provider owned by Insight Partners, according to PE Hub.
Insight Partners has owned Kaseya since 2013. Rumors about the private equity firm seeking to sell some or all of the software company have surfaced in recent months, with some sources suggesting Insight Partners had hired Credit Suisse to assist the exploratory journey, according to ChannelE2E reporting.
ChannelE2E has not independently confirmed the TPG Capital-Kaseya rumors, nor do we know if Insight plans to reduce its stake in the software company.
Kaseya itself, meanwhile, has remained in acquisition mode. The deals typically involve one or more of these three approaches:
- Tuck-ins of independent companies;
- melding other Insight Partner investments into Kaseya; and/or
- quiet deals that aren't officially announced until after certain market synergies are achieved.
Kaseya's MSP Software & IT Management Acquisitions
Here's a closer look at each M&A deal that Kaseya has disclosed:
- February 2016: Acquired Vorex for PSA (professional services automation) software.
- May 2017: Unigma for cloud cost management.
- May 2018: Unitrends for appliance-based backup and disaster recovery.
- September 2018: RapidFire Tools for network, security and compliance assessments.
- October 2018: Spanning for Office 365 and SaaS application backup.
- December 2019: IT Glue for MSP documentation software.
The IT Glue deal was actually in place since around 2017 but remained a silent engagement for about two years. A rumored Kaseya-Pulseway deal may also be in place.
Kaseya Connect IT Global 2019 Conference: More Deals?
It's a safe bet additional alliances and perhaps even M&A deals will surface at the Kaseya Connect IT Global 2019 conference, which is scheduled for May in Las Vegas.
Kaseya competes with multiple private equity-owned software companies in the MSP sector. Key PE-owned rivals include ConnectWise, Continuum and Datto, with SolarWinds MSP also having some private equity money backing that company.
