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SolarWinds to go private for $4.4 billionSolarWinds to go private for $4.4 billion
Five years after a Russian APT infiltrated a software update to gain access to thousands of SolarWinds customers, the board has voted unanimously to sell at a top valuation and plans for uninterrupted operations.
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Source: SOPA Images Limited via Alamy Stock Photo
SolarWinds, the software and IT company that faced a major supply chain cyberattack in 2020, today announced that it will be acquired by Turn/River Capital for $4.4 billion, or $18.50 per share.
Along with unanimous approval from its board of directors, the transaction also received written approval from Thoma Bravo and Silver Lake, SolarWinds' majority shareholders with a combined 65% of the outstanding voting securities.
SolarWinds will become a privately held company, no longer listed on the New York Stock Exchange, though it will continue to operate under the name SolarWinds and stay headquartered in Austin, Texas.
"This successful transaction and exciting partnership are testaments to our employees' outstanding work of building exceptional solutions and delivering great customer success," said Sudhakar Ramakrishna, president and CEO of SolarWinds, in a statement. "We are confident that Turn/River's expertise and growth orientation will help us ensure SolarWinds continues to drive innovation and deliver even greater value for customers and stakeholders."
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