Vista-backed IT software provider Datto sets terms for $561 million IPO

Datto Holding, which sells a hybrid IT infrastructure platform to managed service providers, announced terms for its IPO on Wednesday.

The Norwalk, CT-based company plans to raise $561 million by offering 22 million shares at a price range of $24 to $27. New investors Investment Group of Santa Barbara and Dragoneer Investment Group intend to purchase $112 million worth of shares in the offering. At the midpoint of the proposed range, Datto Holding would command a fully diluted market value of $4.2 billion.

Datto is the leading provider of cloud-based software and technology solutions purpose-built for delivery through the managed service provider (MSP) channel to small and medium businesses. The company’s cloud-based platform offerings include Unified Continuity, Networking, and Business Management software solutions and it currently serves 17,000 MSP partners.

Datto Holding was founded in 2007 and booked $493 million in revenue 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 the joint bookrunners on the deal. It is expected to price the week of October 19, 2020.

The article Vista-backed IT software provider Datto sets terms for $561 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S

Augury Raises $55 Million Series D Funding to Sustain Rapid Growth, Announces New Global Partnerships and Capabilities

New Funding Round Led by Israeli-based Qumra Capital Marks Significant Increase in Valuation for IIoT Leader

Augury, a leading AI-based Machine Health solution provider, today announced it has secured $55 million in funding. The additional capital will be used to sustain and accelerate Augury’s rapid growth and to capitalize on the opportunity to help leading industrial companies improve the reliability, resilience and efficiency of their manufacturing operations. This Series D round was led by Qumra Capital, a leading late-stage venture capital firm based out of Israel. It includes participation from existing key investors, including Insight Venture Partners, Eclipse Ventures, Munich Re Venture Capital, Qualcomm Ventures and Lerer Hippeau Ventures. With this round Augury has raised $106 million since its initial funding six years ago.

The company also announced new partnerships and capabilities to help its global customers gain the benefit of prescriptive diagnostics and machine insights, no matter where in the world they operate. These include:

  • Building a network of delivery partners to supplement Augury- and Customer-led installations, including ProPap in Germany, Caverion in Finland and Pluriservice in Italy, Fuse IoT to cover Latin and South America, and 42 North who provides additional coverage for North America;

  • Expanding language support for the Augury platform, both for the platform itself and the key alerts that customers receive;

  • Broadening the range of country-specific certifications to enable deployment of Machine Health in more geographies than ever before.

“We’ve seen significant and accelerating growth in our business, both before and during the global health crisis,” said Saar Yoskovitz, co-founder and CEO of Augury. “We also continue to build a powerful ecosystem for Machine Health to deliver new forms of value for customers. Our partner and alliance network includes OEMs and services providers such as Grundfos, Carrier and Trane, insurance partner Munich Re, and innovative

McAfee Sets Terms of IPO, Hoping to Raise Up to $682 Million

McAfee, the cybersecurity company founded by tech eccentric John McAfee, has set the terms for its initial public offering, hoping to raise as much as $682 million in a deal that could value the company at $3.64 billion.

McAfee, based in San Jose, plans to sell 37 million shares at a price of $19 to $22 each. The stock will trade on Nasdaq, with the ticker symbol MCFE, the company said in an SEC filing.

Of the 37 million shares, 30,982,558 will come from the company and 6,017,442 from existing stockholders. McAfee expects to have 165.44 million Class A shares outstanding after the IPO.

In the six months through June 27, McAfee posted profit of $31 million, swinging from a loss of $146 million in the year-earlier period. Revenue rose 9% to $1.4 billion from $1.29 billion.

John McAfee founded McAfee Associates in 1987 and ran it until 1994, when he left the company.

McAfee’s anti-virus software was a market leader along with Norton in the 1990s and 2000s. It sold itself to Intel INTC for $7.7 billion in 2011.

In 2016, Intel sold a 51% stake to the San Francisco private-equity firm TPG for $1.1 billion. In its IPO prospectus, McAfee cites TPG and Chicago PE firm Thoma Bravo as investors.

After leaving McAfee Associates, John McAfee founded a raft of companies, including Tribal Voice, which offers the PowWow chat program; QuorumEx and Future Tense Central. 

In 2016 he sought the Libertarian Party nomination for president, losing to former New Mexico Gov. Gary Johnson. He gave it another shot this year, to no avail.

McAfee was arrested last week in Spain and is facing extradition to the U.S. on tax evasion charges. In a statement announcing the charges, the Department of Justice noted “The indictment does not allege that

Border Patrol Spent $2 Million On Google Maps For A Massive Surveillance Tool

For every person who enters America, a profile is drawn up and a determination made on their risk to national security. It’s the same for any cargo or packages. And it’s all done using a tool known as the Automated Targeting System (ATS). This decades-old technology helps border staff decide whether or not you or a shipment needs to be pulled aside for further inspection before being allowed into the country.

Run by Customs and Border Protection, it’s been controversial since the mid-2000s, when the U.S. Department of Homeland Security (DHS) pivoted its use from just targeting cargo to tracking people. Though it’s primarily engineered by lesser-known tech contractors, one of the technologies the ATS uses is Google Maps. Through a review of government contract records and a FOIA request response, Forbes has learned that the CBP has spent at least $2 million in the last three years on the Google mapping software to support ATS, which critics say is a secretive, “terrifying,” huge surveillance system, one that draws in personal and location data from a vast number of government and commercial databases to make its risk assessments. 

Whilst ATS can help investigators target individuals or packages that have been making suspicious trips to places of interest, such as Syria or Afghanistan, its use on any visitor to America makes it particularly troubling for privacy advocates. And CBP’s use of Google technology could be problematic for a tech giant whose own employees have voiced anger about its work with Trump’s immigration agencies.

“ATS is sort of this terrifying master database of vast quantities of personally identifiable information that’s being funneled in from dozens of different law enforcement and other databases,” said John Davidson, lead counsel at the Electronic Privacy Information Center (EPIC), who said the use of Google tech in

BlackSwan Technologies Launches World’s First AI Operating System, Raises $28 Million in Funding to Pioneer Next Generation of Enterprise Software

Groundbreaking AI Software Highlighted by Gartner As “Bringing AI Closer to Human Learning and Intelligence”  

Company’s Stealth Mode Successes Include Tens of Millions in Revenue, Long-Term Contracts & Partnerships with the World’s Largest Consultancies & Fortune 500 Clients

BlackSwan Technologies launches as the world’s first enterprise AI operating system, enabling any company to leverage the most advanced artificial intelligence for an unprecedented level of operational efficiency and data-driven decision making. Since it began offering its technology to a limited customer base earlier this year, BlackSwan Technologies has generated tens of millions of dollars in revenue through multi-year contracts with many leading businesses. The company has also established a groundbreaking partnership with Deloitte to provide leading global banks an AI-powered platform that is already proven to increase revenue and drive efficiencies.

BlackSwan Technologies was recently recognized in Gartner’s 2020 Hype Cycle for Emerging Technologies report as a pioneer in “bringing AI closer to human learning and intelligence.” The company’s signature Platform as a Service (PaaS), ELEMENT, accomplishes this by combining multiple AI technologies — including machine learning, natural language processing, deep learning, neural network and data operation facilities — into a single platform.

Unlike other enterprise AI offerings, ELEMENT does not require well-organized data sets, countless hours of data normalization or technical in-house expertise to implement. ELEMENT’s Low code/No code, cloud-agnostic system includes several advanced enterprise applications including for Risk Management, Compliance, Lead Generation, Personalization and Market Intelligence. The platform also allows users to build enterprise applications up to 60 times faster and at a fraction of the cost of market alternatives. ELEMENT is designed to continuously learn and evolve with the enterprise and has a completely customizable structure with a simple, drag-and-drop interface, democratizing the development and execution of large, industrial enterprise applications.

“We believe this represents a