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Outsourcing IT Firm Datto Begins Trading on NYSE

By Ross Matican
· · Source: The Information

Datto, which provides outsourced information technology services to clients, began trading on the New York Stock Exchange as ‘MSP’ Wednesday morning. It priced its initial public offering at $27, raising $594 million. The stock opened 19% higher at $32, although it fell back to $28.30 later in the day, giving it a market cap of $4.5 billion. The firm intends to use its IPO proceeds to help pay...

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