SolarWinds Completes N-able Acquisition
New Business Will Allow SolarWinds to Further Extend Its Unique
Business Model and Value Proposition to Reach MSPs and the Growing
Small Business Market
AUSTIN, TX -- (Marketwired) -- 05/28/13 -- SolarWinds(R) (NYSE:
SWI), a leading provider of powerful and affordable IT management
software, announced today the close of the N-able acquisition,
enhancing its remote monitoring and management (RMM) offerings and
adding MSP service automation to the range of IT management
challenges that the company works to address for the entire IT
community -- from large enterprises to the growing segment of small
businesses who are deploying "light IT" and "no IT" initiatives.
SolarWinds acquired N-able for $120 million in cash that was funded
from SolarWinds' existing cash balance.
The acquisition gives SolarWinds a new brand, N-able by SolarWinds,
and a robust set of Cloud-based offerings to meet the IT management
needs of small businesses -- with fewer than 100 employees -- through
the MSPs and Value-added Resellers they have come to trust.
"As small businesses continue to turn to MSPs and other service
providers to support their business-critical IT environments via the
Cloud, we believe that we are now well-positioned to extend our
unique value proposition to this growing space and support these
businesses' evolving IT management needs. MSPs need a strong partner
focused on delivering products that are powerful, affordable, and
purpose-built to ensure that they are getting everything that they
can out of their IT investments," said Kevin Thompson, SolarWinds'
President and CEO.
"Over the past 13 years, N-able has developed a set of award-winning
MSP-centric tools that have garnered strong recognition from the
industry for their depth, breadth, and ease of use. We believe that
the strength of the N-able brand, combined with SolarWinds' unique
value proposition and go-to-market model, will allow us to accelerate
N-able's growth and provide tremendous long-term value to managed
service providers and the small businesses that they serve."
N-able was founded in 2000 and is based in Ottawa, Ontario, Canada
and currently serves more than 2600 MSPs. Like SolarWinds' products,
N-able's portfolio is designed to solve the operational tasks MSPs
face on a day-to-day basis in managing and securing small businesses'
IT infrastructure via the Cloud.
N-able products will continue to be marketed and sold by N-able via
the N-able website and from select channel partners.
For additional perspective on this acquisition, please read the FAQs.
For more information on the expected financial impact of the N-able
acquisition, visit SolarWinds Investor Relations site for the replay
and transcript of the company's May 21 investor call.
More information on N-able's RMM and MSP service automation products
is available at 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
ability of SolarWinds to integrate the acquisition and expand its
model into the MSP market, the ability of SolarWinds to accelerate
N-able's growth and provide tremendous long-term value to the
hundreds of thousands of small businesses served by managed service
providers and SolarWinds' future plans for marketing and selling
N-able products . 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, 2013 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
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
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.
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