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SOLARWINDS BUYS N-ABLE FOR $120M
SolarWinds has acquired Ottawa, Ontario-based N-Able Technologies for $120 million. N-Able, which makes managed service provider automation offerings, was a portfolio company of Accel-KKR. Accel-KKR also has a majority investment in Accellos and a minority stake in SwiftPage, which recently acquired Act and SalesLogix from Sage. SolarWinds said the payment was made from its cash balance.
Designed for companies with fewer than 100 employees, the product line is now called N-Able by SolarWinds. Based in Austin, Texas, publicly held SolarWinds had revenue of $72.9 million for the first quarter ended March 31, up 22.1 percent when compared to $59.7 million for the year ago quarter. Net income was $23 million, an increase of 32.3 percent from $17.1 million a year earlier. N-able products will continue to be sold from its website and by its channel. SolarWinds provides IT management tools for the enterprise software arena. Accel-KKR also owns the still-to-be-named company that is marketing the former Sage Nonprofit line.
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