Continuing on with the October theme of acquisitions, today SolarWinds announced that the private equity firms Silver Lake Partners and Thoma Bravo would acquire it. The deal is valued at $4.5 billion. The two firms state that they will pay shareholders $60.10 which is 44% over its closing price on October 8th.
Unsurprisingly the stock price jumped quite a bit after the announcement. SolarWinds’ board, following a comprehensive review of strategic alternatives, has approved the agreement. As you may recall Silver Lake Partners was part of the Dell/EMC acquisition announced last week.
SolarWinds was founded in 1999 and is headquartered in Austin, Texas. Their mission has been to create purpose-built products that are designed to make IT professionals’ jobs easier. In order to do so SolarWinds strives to eliminate complexity, connect with the community, and evolve their products to meet the ever-changing needs of their customers. SolarWinds currently employees over 1,500 and has over 150,000 customers worldwide.
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