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Datto Holding Corp (NYSE: MSP) has announced key sales leadership appointments across the Asia Pacific (APAC) and Europe, the Middle East, and Africa (EMEA) regions. Danny Mesrop joins as Vice President of Sales, APAC, and James Vyvyan as Vice President of Sales, EMEA, to enhance the company’s go-to-market strategy. The leadership changes aim to support managed service providers (MSPs) amid increasing digital transformation demands from small and medium enterprises (SMEs). Datto emphasizes its commitment to empowering MSPs and investing in regional leadership.
Datto Holding Corp. (NYSE: MSP) reported strong Q3 2020 results, highlighting a 17% year-over-year growth in both subscription revenue ($122.8 million) and Annual Recurring Revenue (ARR) ($522.8 million). This growth is attributed to increased adoption of Datto solutions by existing partners and the addition of new partners. The company’s net income surged by 617% to $19.5 million, with adjusted EBITDA rising 78% to $45.8 million. Datto forecasts Q4 revenue between $133.0 million and $135.0 million, reaffirming its positive outlook for the full year.
Datto Holding Corp (NYSE: MSP) released its fifth annual Global State of the Channel Ransomware Report, revealing that 60% of Managed Service Providers (MSPs) reported ransomware attacks on small and medium businesses (SMBs) as of Q3 2020. The average cost of downtime due to these attacks has surged to $274,200, a 94% increase since 2019. The survey highlights MSPs' heightened vulnerability, with 95% noting increased risks, while 50% of MSPs observed clients raising IT security budgets. The report underscores the need for robust cybersecurity measures, particularly in the healthcare sector, which remains the most targeted industry.
Datto Holding Corp. (NYSE: MSP) announced that underwriters exercised their option to purchase an additional 3,300,000 shares at $27.00 each during its recent IPO. This brings total shares issued to 25,300,000, generating net proceeds of $641.6 million after expenses. The IPO involved key financial institutions, including Morgan Stanley and BofA Securities. Datto, a leader in cloud-based technology solutions for managed service providers, has expanded its offerings to support over a million businesses globally.
Datto Holding Corp. (NYSE: MSP) announced it will report its fiscal third quarter 2020 financial results on November 23, 2020, after market close. Management will discuss the results during a conference call and webcast at 5:00 pm ET. Datto, a leader in cloud-based software solutions for managed service providers, aims to showcase its growth and technology offerings. The company supports over one million businesses globally through its unique ecosystem of MSP partners.
The Madison Covered Call and Equity Strategy Fund (NYSE: MCN) has declared a quarterly dividend of $0.18 per share, payable on September 30, 2020. Shareholders of record as of September 16, 2020 will receive this dividend, with the ex-dividend date set for September 15, 2020. The Fund aims for a high level of current income and capital gains through investing in common stocks and employing a covered call option strategy. Market fluctuations may impact future dividend prospects.