Miami-Dade and Heat grant arena naming rights to Kaseya. What’s driving this $117M deal for Kaseya?

By Nancy Dahlberg

Kaseya is getting its name out there, quite literally.

This week, Miami-Dade County and The Miami HEAT entered into a long-term partnership with Kaseya, the Miami-based global provider of unified IT management and security software for managed services providers, for naming rights on the waterfront arena. In the $117 million deal over a 17-year term, Kaseya’s name will not only be on the arena, but the company will receive prominent in-arena signage including on the court, gameday features, digital content, community engagements, and more. Effective immediately, the home of the Miami HEAT will be known as the “Kaseya Center.”

Noting this is the first time an arena sponsor will be a locally based business, Miami-Dade County Mayor Daniella Levine Cava said: “[Kaseya] has demonstrated a real commitment to invest in our economy and our local talent by opening the door to the jobs of the future. This deal will not only allow us to continue investing in critical crime prevention programs, it will also strengthen our brand as a global, diverse and future-ready community.” 

The agreement comes about five months after the Heat and the county started the process to remove the FTX brand from what was briefly called FTX Arena until the cryptocurrency exchange imploded. For the county, the deal brings revenue, including continued funding for its crime prevention programs. What does the deal do for Kaseya? Refresh Miami asked CEO Fred Voccola.

Putting the Kaseya name on the stadium will help the company “attract the best people on this planet and in this community to come work for Kaseya,” Voccola said in an interview.

“We sell software for IT and security management. We’re a very, very good, lucrative, profitable business, but it’s not super sexy,” he continued. “So when we’re out attracting the best in the world, and the best in our community, to come work and stay here in Miami, they’ll recognize that we’re joined with the community. We are committed. We want to be here for a long time.”

Voccola said the deal will also help drive success for Kaseya’s customers — about 50,000 managed service providers that service small businesses. “Our job is to make their lives better. … Not only do we get the best people in the community and in the world to come work here, but the Kaseya brand will instantly become a global brand that’s recognized by the people who own the restaurants, who own the dental practices, that own the architecture firms. The customers of our customers will instantly know the name.”

Globally, Kaseya has 48,000 customers in more than 25 countries, and employs more than 4,500 people. Last year, it acquired Datto for $6.2 billion. Kaseya has had a small presence in Miami since the early 2000s but when Voccola came aboard as CEO in 2015, he kicked up the growth and in 2018,  Miami became the company’s global headquarters.

Since 2015, Kaseya’s local employment has grown from about 40 people to nearly 1,000. That will continue: Kaseya announced in February that it planned to add 3,400 jobs paying an average of $107,000 in South Florida over the next several years. The company could receive up to $4.56 million in incentives if those hiring goals are met. So far this year, the company has been hiring at a clip of nearly 100 people monthly in the Miami area as Kaseya ramps up local hiring, Voccola said.  

The CEO noted that Kaseya is bringing in two annual conferences a year, including DattoCon taking place at the Intercontinental in October for 3,000+ people. Noting Miami’s recent ascent as a technology hub, he said, “we are so humbled and honored to have the opportunity for our name to be associated with our community for years to come.”

On a personal note, Voccola, a University of Miami alum, said he’s also happy to partner with a winner. ”As Miami Heat fans, we’re spoiled. We’ve won more championships as a percentage of the time we’ve been in the league than anybody other than the Boston Celtics. And anybody who’s been to a Heat game knows if you go to a Miami Heat game, it’s a super badass customer experience,” he said. “We love being associated with that because our business is also all about the customer.”

READ MORE ON REFRESH: 5 questions with Kaseya about expansion plans and what’s ahead

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Follow Nancy Dahlberg on Twitter @ndahlberg and email her at [email protected]

Nancy Dahlberg