SolarWinds Sets Its Sights on the SMB and the Cloud, Agrees to Acquire N-able
Acquisition Will Enable SolarWinds to More Effectively Address the
Growing IT Management Needs of Small Businesses -- Less Than 100
Employees -- Globally
AUSTIN, TX and OTTAWA -- (Marketwired) -- 05/21/13 -- SolarWinds(R)
(NYSE: SWI), a leading provider of powerful and affordable IT
management software, today announced that it has entered into a
definitive agreement to acquire privately held N-able Technologies, a
leader in Cloud-based remote monitoring and management (RMM) and
service automation software for Managed Service Providers (MSPs).
SolarWinds is acquiring N-able for $120 million in cash. The company
expects the acquisition to close before the end of May.
"Upon completion of the acquisition, the addition of N-able to the
SolarWinds family gives us the opportunity to respond to a growing
need in the IT industry. As more and more small businesses begin
exploring ways to deploy and efficiently manage IT and SaaS-based
technologies to drive their businesses, MSPs are stepping up with
Cloud-based services designed to help ensure that IT environments are
maintained and employees have the access and device support that they
need to get their jobs done. We're excited to expand into another
highly complementary branch of IT management that we believe is ripe
for our disruptive go-to-market model," said Kevin Thompson,
SolarWinds' President and CEO.
"N-able is very excited about this opportunity to join forces with
SolarWinds to continue our mission to serve the MSP market and drive
this next phase of growth," said Gavin Garbutt, CEO and Co-Founder,
N-able Technologies. "We feel that this merger is a reflection of our
industry-leading position and growth, the quality of our products
and, most importantly, the performance of the N-able team worldwide."
-- SolarWinds believes that a significant opportunity exists to more
effectively serve small businesses' evolving IT needs by empowering
the MSPs many of them have come to rely on. Many MSPs offer
Cloud-based management services designed to help ensure that IT
environments are efficiently and properly maintained in line with
"light IT" or "no IT" initiatives.
-- SolarWinds intends to ac
quire N-able, giving SolarWinds a more
effective and accelerated means of meeting the needs of the rapidly
developing IT service market -- comprised of MSPs and Value-added
Resellers, and the hundreds of thousands of SMBs they serve.
-- The acquisition allows SolarWinds to leverage the large opportunity
associated with rapidly growing adoption of the Cloud and SaaS-based
services among SMBs; enhancing its remote monitoring and management
(RMM) offerings and adding MSP service automation to the broad range
of management challenges that SolarWinds works to address for the IT
-- The functionality provided by the N-able acquisition serves a critical
need for MSPs tasked with providing supplemental or complete IT
services, via the Cloud, to small and mid-sized businesses, such as
user support and device and application monitoring and
troubleshooting. N-able has a proven track record of helping MSPs
standardize and automate the setup and delivery of these IT services
in order to achieve true scalability.
-- SolarWinds plans to share additional details around future product
direction, branding, positioning and pricing following the completion
of the acquisition.
"Like SolarWinds, N-able has built a reputation for delivering products
that are tailor-made to support the unique needs of their users and
has invested in developing strong relationships with these MSPs,"
continued Thompson. "We look forward to welcoming the N-able team
into the SolarWinds family and working together to expand the
SolarWinds model into this new IT management market. We believe that
the combined strength of these two companies will deliver significant
benefit to the larger IT community, but in particular those small
businesses who need support in managing, maintaining and securing
their critical IT systems."
In support of this announcement, SolarWinds will host a
teleconference on Tuesday, May 21 at 4 pm CT. The domestic dial-in
number for this call is 1-888-395-3230; international participants
can dial +1 719-325-2326 to access the call. Please dial in 5-10
minutes before the scheduled start time. A live webcast of the call
will be available on the SolarWinds Investor Relations website at
ir.solarwinds.com. A replay of the webcast will be available on a
temporary basis shortly after the event at the same location.
For more information on SolarWinds and SolarWinds' IT management
solutions, please visit www.solarwinds.com.
For more information on N-able Technologies and N-able's RMM and
service automation products, visit www.n-able.com.
This press release contains "forward-looking" statements, which are
subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
opportunities presented for SolarWinds by the acquisition and its
ability to leverage those opportunities, the ability of SolarWinds to
integrate the acquisition and expand its model into the remote
monitoring and management market and the closing of the acquisition.
These forward-looking statements are based on management's beliefs
and assumptions and on information currently available to management.
Forward-looking statements include all statements that are not
historical facts and may be identified by terms such as "will,"
"plans," "believes," "intends" or similar expressions and the
negatives of those terms. Forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors that
could cause or contribute to such differences include, but are not
limited to, the following: (a) the possibility that general economic
conditions or uncertainty cause information technology spending to be
reduced or purchasing decisions to be delayed; (b) the inability to
increase sales to existing customers and to attract new customers;
(c) SolarWinds' failure to integrate acquired businesses and any
future acquisitions successfully; (d) the timing and success of new
product introductions by SolarWinds or its competitors; (e) changes
in SolarWinds' pricing policies or those of its competitors; and (f)
such other risks and uncertainties described more fully in documents
filed with or furnished to the Securities and Exchange Commission,
including the Form 10-K for the year ended December 31, 2012 filed on
February 19, 2013. All information provided in this release is as of
the date hereof and SolarWinds undertakes no duty to update this
information except as required by law.
SolarWinds (NYSE: SWI) provides powerful and
affordable IT management software to customers worldwide -- from
Fortune 500 enterprises to small businesses. We work to put our users
first and remove the obstacles that have become "status quo" in
traditional enterprise software. SolarWinds products are
downloadable, easy to use and maintain, and provide the power, scale,
and flexibility needed to address users' management priorities. Our
online user community, thwack, is a gathering
-place where tens of
thousands of IT pros solve problems, share technology, and
participate in product development for all of SolarWinds' products.
Learn more today at http://www.solarwinds.com.
SolarWinds and SolarWinds.com are registered trademarks of
SolarWinds. All other company and product names mentioned are used
only for identification purposes and may be trademarks or registered
trademarks of their respective companies.
About N-able Technologies
N-able is the leading global provider of
complete IT management and Automation solutions for Managed Service
Providers (MSPs). N-able's award-winning N-central(R) is the
industry's #1 RMM and MSP Service Automation Platform. N-able has a
proven track record of helping MSPs standardize and automate the
setup and delivery of IT services in order to achieve true
scalability. N-central is backed by the most comprehensive business
enablement support services available today and the industry's only
freemium licensing model. Thousands of MSPs use N-able solutions to
deliver scalable, flexible, profitable managed services to over
91,000 SMBs worldwide. With offices in North America, the U.K., the
Netherlands and Australia, N-able is 100% channel-friendly and
maintains strategic partnerships with Microsoft, Intel, IBM, CA, and
Cisco among others.
phone: 613-592-6676 x304
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