Global private equity and venture capital firm, Insight Venture Partners, has bought a significant stake in IT systems management software company, Kaseya, for an undisclosed sum.
Insight Venture Partners managing director, Mike Triplett, said in a statement, “Kaseya is the market leader in IT management solutions for MSPs and mid-market enterprises. We intend to expand on that leadership position and bring significant value to Kaseya, its customers and its employees.”
Kaseya CEO, Gerald Blackie, as well as founders Mark Sutherland and Paul Wong, will leave the company.
Blackie will be replaced by former FatWire Software president and CEO, Yogesh Gupta.
Gupta has also previously served at CA Technologies in several roles during his 18-year stint in the company – as its senior vice-president and chief technology strategist, senior vice-president and chief technology officer and senior vice-president of product marketing and strategy.
“Not only did Gerald, Mark and Paul define the MSP IT management market, they built an extremely successful business to serve it," Gupta said.
“Kaseya’s customers rely on its market-leading IT Service Management offerings and we will continue to evolve our offerings to meet their changing needs while delivering a compelling value proposition to them. Industry trends such as BYOD and cloud computing are creating new challenges and opportunities for companies. I look forward to leading Kaseya to its next level of success through accelerated innovation, and to partnering with our customers to drive their success in this new world.”
“We have spent over a decade building a successful business from the ground up. I am extremely proud of the Kaseya team, our worldwide customer base and our award-winning, best of class products,” Blackie said.
“Yogesh Gupta’s blue chip credentials, coupled with the experience, guidance and investment strength of Insight Venture Partners, bring a strong and committed partnership that will further drive Kaseya’s growth and success."
Kaseya A/NZ managing director, Dermot McCann, told ARN that the investment reflects the next logical stage in the company’s evolution and growth and enhances the Kaseya brand.
“It’s a natural progression as we continue on to the next step of growth that we take on board an additional injection of talent into our business. Industry trends like BYOD and Cloud computing are areas that we will continue to focus on,” he said.
McCann said the investment will only have a positive effect on the A/NZ channel and operations.
“The A/NZ operation punches above its weight. We have a mature business with mature customers and a global centre of excellence in Auckland, which contributes a significant amount to our current and next generation development technologies.
“We’ve always been focused on providing enterprise IT systems management, so we expect this investment to accelerate our original plans.”
McCann added that there will be no staff made redundant as a result of this investment. “We’ll be bolstering our team to support our next stage of growth,” he mentioned.
Kaseya is the third managed services software company to be acquired over the last month.
Recently, N-able Technologies was bought over by SolarWinds and Level Platforms was sold to AVG Technologies.