
TPG, Insight in $500m round for Kaseya
TPG Capital and Insight Partners have led a $500m funding round for Ireland- and US-based IT management software developer Kaseya.
The fresh capital will support the acquisition of dark-web-monitoring company ID Agent and will value the consolidated group at $1.75bn, according to Unquote sister publication Mergermarket. It will also fund international expansion and investment in research and development.
According to a statement, the consolidated business will have a client base of around 40,000 clients.
The transaction comes 18 months after the Irish Strategic Investment Fund invested €19m in a €38m funding round for Kaseya, which is dual-headquartered in Ireland and the US, and a year after the company merged with US-headquartered IT business Unitrends.
Previous funding
Insight first invested in Kaseya in June 2013 and is the majority shareholder in the company. The firm acquired a majority stake in US-based Unitrends four months later.
Companies
Founded in 2000, and dual-headquartered in Dublin, Ireland, and Waltham, Massachusetts, Kaseya is a developer of IT management and monitoring software. Its platforms enable companies to manage and control IT assets remotely from an integrated web-based platform.
Headquartered in Bowie, Maryland, ID Agent is a developer of dark web monitoring software.
People
TPG Capital – Nehal Raj (partner).
Kaseya – Fred Voccola (CEO).
Advisers
Equity (TPG) – Barclays (corporate finance).
Company – Evercore Partners (corporate finance).
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