We heard just now from our good PR friend Marie Rourke and Co. of WhiteFox Communications that SolarWinds, a provider of IT management software has agreed to acquire N-able for $120 million cash. The acquisition is a quick one in that is set to close by the end of this month.
Rourke also told noted in the announcement that Gavin Garbutt, N-able’s CEO, will “literally set sail” by taking advantage of his full time passion for sailing on the high seas; Garbutt plans to retire as CEO, and will remain onboard as an advisor of the new company. JP Jauvin will fill the role as GM, and Mike Cullen and Derik Belair will remain in their current positions as senior VP of sales and VP of Marketing & Business Development, respectively.
N-able also added that with the sale, the company will still remain, and is 100% (as always) focused on its channel-friendly roots. Following the sale to SolarWinds, N-able will maintain its go-to-market strategy and will continue to promote its brand, which will remain intact.
While the acquisition is just a few moments old, Rourke added that additional details around future product direction, branding and positioning and pricing will follow the completion of the acquisition. Stay tuned, and check back here for more details!