SolarWinds (SWI) may launch an IPO (initial public offering) this week, with a target price of $17 to $19 per share. The IPO at that price range would raise roughly $756 million, valuing the IT management software company at roughly $5.5 billion, according to Renaissance Capital IPO Research.
Updated October 18, 2018, 12:40 p.m. ET: SolarWinds refines IPO plan, price target, expected valuation.
MSP software companies are closely watching the SolarWinds IPO plan because the company's SolarWinds MSP business unit supports roughly 22,000 managed services providers worldwide. SolarWinds in an SEC filing indicated that the MSP software market does not yet have a clear, dominant market leader. And the company did not mention rivals like ConnectWise, Continuum, Datto and Kaseya in the filing.
SolarWinds has been ramping up for an IPO since early 2018. However, IPO dates can slip and/or change from time to time amid broader, macroeconomic turbulence on Wall Street. ChannelE2E will be watching closely to see if SolarWinds completes the IPO this week.
