SolarWinds (NYSE:SWI) acquired N-able Technologies for $120 million in cash. The deal focuses on cloud-based managed services software for small businesses. The companies pledged that N-able's 100 percent channel-friendly approach would remain in place.
SolarWinds (NYSE:SWI) has acquired N-able Technologies for $120 Million in cash in a managed services provider (MSP) deal that is expected to close by the end of May. SolarWinds’ CEO Kevin Thompson positioned the buy as a move into the complimentary market of cloud-based managed services for small businesses.
SolarWinds executives said during a conference call that the company will immediately stop selling perpetual licenses to N-able's technology and going forward will only sell subscription licensing going forward -- cloud-based services.
N-able’s CEO Gavin Garbutt plans to retire while JP Jauvin will remain as general manager. Mike Cullen, Derik Belair and other N-able executives will remain in their current positions. An N-able spokeswoman said that the company’s previous 100 percent channel-friendly, go-to-market strategy will remain in place, and the N-able brand will also stay intact.
Here’s what SolarWinds CEO had to say about the deal: "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.”
Garbutt added this: "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."
The following is some quick background information about N-able as provided by a spokeswoman:
- N-able is headquartered in Ottawa, Canada – and has offices in Europe and Australia – and currently employs approximately 180 people worldwide. N-able’s presence includes an installed base of more than 2600 MSPs who serve approximately 91,000 SMBs today.
- N-able was founded in 2000 and, over the past 13 years, has garnered a strong reputation in the MSP market.
- N-able’s flagship product is N-Central, the industry’s top RMM and IT service automation solution. N-Central offers Cloud-based, multi-tenant, remote monitoring and management for IT infrastructure such as desktops, servers, applications, and network devices.
- N-able’s portfolio also includes additional products that address a wide range of IT management capabilities, including bandwidth management, mobile device management, security, backup, patch management and IT service automation.
More details to come.