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SolarWinds Files for Initial Public Offering (IPO)

SolarWinds CEO Kevin Thompson

SolarWinds has filed for a potential IPO (Initial Public Offering), the IT management and MSP-centric software company has confirmed.

Updated September 23, 2018: SolarWinds IPO Plan Pursues $500 Million.

The proposed price range and other financial details were not disclosed in the SolarWinds statement about the SEC filing. The move comes roughly two years after private equity firms Thoma Bravo and Silver Lake Partners acquired SolarWinds from public markets for about $4.5 billion.

SolarWinds, founded in 1999, now has roughly 2,200 employees worldwide. The company makes a range of IT management products that allow corporate IT departments to optimize and monitor infrastructure, networks, databases, applications and more.

SolarWinds MSP for IT Service Providers

In recent years, SolarWinds has also built an MSP-centric software business. Key moves involved acquiring LogicNow in 2016 and N-able Technologies in 2013.

The SolarWinds MSP business now offers two RMM (remote monitoring and management) platforms for various MSP use cases, along with basic ticket management systems, cloud backup, security and more. The business supports more than 20,000 MSPs while competing against such rivals as ConnectWise, Continuum, Datto and Kaseya, among others.

A SolarWinds IPO could be a bellwether moment for the MSP software industry. To date, most major MSP software providers have remained privately held and/or owned by private equity firms.

The trend has been similar for enterprise-minded IT service management software companies in recent years. BMC is navigating its second private equity ownership deal in recent years, and rumors about private equity firms acquiring publicly held CA Technologies continue to pop up from time to time.

SolarWinds Leadership: Familiar Names

Meanwhile, the SolarWinds IPO filing likely indicates that the company is feeling good about its recent business performance. Among the secrets to the company’s success: Consistent leadership.

CEO Kevin Thompson has led the company during its private and public business stages. Also, SolarWinds MSP executives like Division GM John Pagliuca and Senior VP JP Jauvin have provided steady leadership amid multiple M&A deals and long-term software development roadmap planning.

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