Benjamin Sinclair • 22 Comments
Oct. 21, 2015, 9:46 AM
- Thoma Bravo and Silver Lake are buying SolarWinds (NYSE:SWI) for $4.5B, or $60.10/share, in cash. The price represents a 20% premium to Tuesday's close, and a 43% premium to where the systems/app management software firm traded before Reuters first reported of sale talks on Oct. 9.
- The deal, the latest in a string of P-E purchases of enterprise tech companies, is expected to close in Q1 2016. SolarWinds is halted.
- Update (10:01AM ET): SolarWinds has come off its halt. Shares are up 15.8% to $58.14.
Oct. 9, 2015, 11:43 AM
- Less than two hours after Reuters reported the company is in talks with P-E firms about potentially selling itself, SolarWinds (SWI +6.5%) announces it "has commenced a review of its strategic alternatives," including a possible sale or other business combination. JPMorgan and law firm DLA Piper have been hired to help out.
- Shares have pared the initial gains seen following Reuters' report, but remain sharply higher.
- Update (12:02PM ET): SolarWinds is now up 12.7%.
Oct. 9, 2015, 10:29 AM
- Reuters reports SolarWinds (SWI) is talking with several P-E firms about potentially selling itself.
- The systems/app management software vendor's shares have spiked higher. They're still more than $7 below a 52-week high of $53.44.
- A slew of enterprise tech firms have been acquired by P-E over the last two years. Examples include Riverbed, Tibco, and Informatica.
Apr. 28, 2015, 6:49 PM
- With forex taking a toll, SolarWinds (NYSE:SWI) expects Q2 revenue of $120.6M-$123.8M (+19%-22% Y/Y) and EPS of $0.45-$0.47, mostly below a consensus of $124.3M and $0.47. Full-year guidance is a little better: Revenue of $512M-$527M (+19%-23% Y/Y) and EPS of $1.92-$2.04 vs. a consensus of $521.3M and $2.00.
- The systems management software vendor also announces it's buying Papertrail, a provider of cloud-data log data management software tools, for $41M in cash. Papertrail's products are used by IT pros and developers to monitor/troubleshoot websites and cloud apps; machine data/IT operational intelligence analytics leader Splunk is a rival.
- SolarWinds already offers log management tools for on-premise software installations. The Papertrail deal follows SolarWinds' 2014 acquisition of website monitoring software firm Pingdom.
- License revenue rose 17% Y/Y in Q1 to $42.4M, and maintenance/subscription revenue 25% to $74.4M. Total revenue growth was 22% in actual dollars, and 27% in constant currency.
- Shares are unchanged in AH trading for now.
- Q1 results, PR
Jun. 18, 2014, 5:07 PM
- SolarWinds (SWI) is buying Pingdom, a Swedish developer of widely-used website monitoring/performance management software, for an undisclosed sum.
- Pingdom claims 500K+ users, including Google, Twitter, Instagram, and Pinterest. Its pricing ranges from $9.59/month for a Starter version supporting 100K monitored pageviews and 1 site to $453.75/month for an Enterprise version supporting 10M+ pageviews and 200+ sites.
- SolarWinds asserts pairing Pingdom's software with its own Web/app monitoring tools will yield superior visibility and quicker troubleshooting. "Our approach to solving performance management for on-premise IT will extend to how we approach web application management and, eventually, Cloud management."
Oct. 7, 2013, 4:22 PM
- SolarWinds (SWI) has bought Confio, a developer of software that monitors/optimizes database performance and troubleshoots problems, for $103M in cash.
- Confio supports Oracle, Microsoft, and IBM's marquee database platforms, and claims 1.2K customers (inc. 40% of the Fortune 50). Its products complement SolarWinds' various tools for managing and improving the performance of servers, enterprise apps, and networking hardware.
- The deal comes five months after SolarWinds acquired N-able, a provider of cloud-based IT management software aimed at SMBs, for $120M in cash.
- SolarWinds, hit hard this year by bad earnings news, made new 52-week lows today prior to the announcement.
- CC at 5:15PM ET.
May 22, 2013, 2:19 PM
SolarWinds' (SWI -13.9%) is downgraded to Sector Perform at Pacific Crest after yesterday's $120M purchase of N-able Technologies. "The customer base, integration of the acquisition and deal size is incongruous with prior acquisitions," the firm writes, adding SWI is spending half of its cash on an "incremental opportunity that pales in comparison to its existing" market.| May 22, 2013, 2:19 PM
May 21, 2013, 6:38 PM
SolarWinds (SWI) attempts to move downmarket and obtain a stronger cloud presence by striking a deal to acquire private N-able for $120M in cash. Whereas SolarWinds' IT management offerings are more focused on enterprises (it has been gaining share here against the likes of CA, BMC, H-P, and IBM), N-able sells cloud-based IT management software to service providers, who in turn use them to offer IT management services to SMBs. (PR)| May 21, 2013, 6:38 PM
May 15, 2012, 12:58 PM
SolarWinds (SWI +3.9%) and Splunk (SPLK +1.4%) outperform after being mentioned positively in Elliott Associates' open letter to BMC Software's (BMC +1.6%) board. The enterprise software firms are named as companies BMC should have acquired to bolster its software-as-a-service (SaaS) offerings, but are now too richly priced to justify a purchase. (previous)| May 15, 2012, 12:58 PM