Austin, Texas-based SolarWinds, a provider of IT management software for monitoring network performance, servers and applications, network utilization and bandwidth, among other systems, has entered into a definitive agreement to acquire privately held N-able Technologies, in Ottawa, Canada, which provides MSPs with cloud-based remote monitoring and management and service automation software. The cash deal is worth $120 million; SolarWinds expects the acquisition to close before the end of this month.
“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,” says Kevin Thompson, president and CEO of SolarWinds. “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.”
According to Gavin Garbutt, CEO and co-founder of N-able, his company is excited about the agreement and the opportunity it presents for future growth.
A replay of a teleconference supporting the announcement is available for a limited time on the SolarWinds Investor Relations website at www.ir.solarwinds.com.