Datto Files Confidentially for IPO

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Vista-Backed Software Maker Datto Files Confidentially for IPO

Datto Inc., a developer of cloud-based data backup software, is moving ahead with an initial public offering that could come as early as this year, according to people familiar with the matter.

Datto, which is owned by Vista Equity Partners, is trying to decide whether it should list its shares this year or in 2021, the people said, asking not to be identified because the matter is private. The company has filed confidentially for an initial public offering in which it could be valued at more than $1 billion, the people said.