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Thursday, October 26, 2017

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The Big One

A breakdown on the day’s biggest Inno story.

Dylan: The list of Boston M&A deals for October keeps growing.

Lucy: Datto is merging with Autotask, the two companies announced today. The combined company will offer data protection, backup and disaster recovery services for managed services providers.

Autotask, which has an office on Summer Street in downtown Boston, has its headquarters in East Greenbush, N.Y., and London. Datto, which also has a Boston office, on Milk Street, is Connecticut’s top funded startup, according to CBInsights.

Private equity firm Vista Equity Partners, which acquired Autotask in 2014, will acquire Datto and merge the two technology companies. The combined Autotask-Datto company will be led by Datto’s executive team. Datto’s current CEO is Austin McChord, who started the company in 2007. Autotask CEO Mark Cattini will continue to work closely with McChord and the combined team as a strategic advisor to the board of directors.

The Autotask-Datto merger marks the third day in a row that an M&A deal relevant to the Boston tech ecosystem has been announced. On Tuesday, British manufacturer Delphi announced the acquisition of self-driving car startup nuTonomy for $450M. On Wednesday, BBJ reported that Imprivata had acquired the identity and access management department of Caradigm, a GE Healthcare company, for an undisclosed amount.

The transaction is expected to close in the fourth quarter of 2017. Terms of the deal will not be disclosed. Read more: Datto Is Merging With Autotask to Create Combined IT Business 

In The Know

The Inno stories you need to read today.

Making Moves

Inside the people, companies and organizations making moves in Boston.

Dylan: When it comes to the top tech brands to work for in Boston, what comes to mind? For tech professionals surveyed by job search marketplace Hired, TripAdvisor is at the top of that list, followed by Bose, Akamai and HubSpot. Hired’s survey of top tech brands was done as part of its 2017 Global Brand Health Report. There was one alarming finding for Boston: those surveyed said they aren’t tethered to Boston and would be willing to move elsewhere. Read more: Here Are the Top 10 Boston Companies Techies Want to Work For

Lucy: GE’s stock is not in good shape. “After plunging 6.3 percent Monday, the stock slid 1.9 percent Tuesday, for the biggest two-day drop since the recession,” The Boston Globe reported. The company has lost $90B of market value this year.

Dylan: Speaking of Akamai, the company’s CEO and co-founder, Tom Leighton, told CNBC recently that pressure from cloud computing giants like Amazon forced the company to shift its focus to cybersecurity. Akamai’s security business has grown 27% year-over-year to $121M in revenue.

Also, we have two new Kickstarter projects in Boston:

— The Vindor ES-1 is an electronic saxophone that Somerville-based Vindor Music is pitching as a way to make playing music more accessible for anyone. That’s because of the instrument’s low price (under $200) and you can plug your headphones into it and never have to worry about causing a racket when you practice. The project has raised $12K out of its $15K goal, with 22 days left.

CliQ is a smart wireless sensor for “automated modern living,” and it has already surpassed its $50K goal with 35 days left. Developed by Watertown-based BioSensics, the device can be used to do a number of things, such as turning on the lights, setting the thermostat, playing music and setting reminders.

New Money

Your daily funding roundup.

Dylan: Privy, an email marketing startup founded and led by Ben Jabbawy, has raised $2.1M out of a $2.9M equity offering, according to a new Form D.

Lucy: Dating counseling service Icebreaker, one of the three local companies that are launching a business based on SMS, has raised $43K in a securities offering, according to a new Form D.

Player Personnel

Who’s moving where.

Dylan: Telehealth company American Well has hired former Samsung Health executive Harry Kim as its SVP of strategic partnerships. Prior to serving as Samsung Health’s global business lead, he was in charge of HP’s global health and life sciences strategy.

Lucy: John McLean has joined the executive team of Kyruus as the healthcare company’s new CFO. Most recently, he held the same position at Best Doctors.

Dylan: Marketing tech startup SessionM has hired Amelio Vázquez-Reina as VP of data science. He was most recently a principal data scientist and manager at DataXu.

In The Community

The events and happenings to know about tonight and this week.

Lucy: On January 18, the New England Venture Capital Association is hosting Unpitch, a business lunch where entrepreneurs can sit with VCs and angel investors to get feedback on their business. Taking part to the event is free, but you’ll need to send an application. More info here.

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Meet The Authors

Dylan Martin

Lucia Maffei

Kyle Gross

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