SolarWinds Agrees to Acquire TriGeo
SolarWinds to Offer Powerful and Affordable Log and Event Management in Response
to Demand From Its Customers and User Base
AUSTIN, TX, Jun 23, 2011 (MARKETWIRE via COMTEX) -- SolarWinds(R) (SWI), a
leading provider of powerful and affordable IT management software, today
announced that it has entered into a definitive agreement to acquire
privately-held TriGeo, a provider of log and event management software, for $35
million cash. The company expects the acquisition to close in the third quarter
of 2011.
"Upon completion of the acquisition, the addition of TriGeo's offerings to our
portfolio should give SolarWinds the opportunity to respond to our existing
network and systems management customers' demand for affordable and easy-to-use
solutions for log and event management. We're also excited to expand into another
highly complementary branch of IT management that we believe is ripe for our
disruptive go-to-market model," said Kevin Thompson, SolarWinds' President and
CEO.
Overview:
--SolarWinds intends to acquire TriGeo, adding log and event management
product offerings to the SolarWinds portfolio, further extending the
range of problems SolarWinds can solve for its users.
--Upon completion of the acquisition, the company plans to call the
product SolarWinds Log and Event Manager (LEM) and believes it will
give IT organizations the ability to collect volumes of data from
virtually any device on the network and correlate that data in
real-time, resulting in greater visibility, security and control.
--The functionality provided by TriGeo's technology serves a critical
need for IT professionals tasked with managing network, systems and
application performance and availability, aggregating and interpreting
detailed log and event data to enable IT infrastructure monitoring and
troubleshooting, ensuring compliance with regulations such as PCI, SOX
and HIPAA, and monitoring and reacting to security-related issues,
such as user privileges and firewall rules.
--SolarWinds plans to share additional details around future product
direction, positioning and pricing once the acquisition is complete.
"Like SolarWinds, TriGeo has built a reputation for providing products that are
powerful and easy to use," continued Thompson. "We look forward to welcoming the
TriGeo team into the SolarWinds family and working together to fully integrate
these log and event management solutions into the SolarWinds model, making them
easier to access and easier to afford for companies of any size."
In support of this announcement, SolarWinds will host a teleconference on
Thursday, June 23 at 8:00am CT. The domestic dial-in number for this call is
888-318-7470; international participants can dial + 719-457-2657 to access the
call. Please dial in 5-10 minutes before the scheduled start time. A live webcast
of the call will be available on the SolarWinds Investor Relations website at
ir.solarwinds.com. A replay of the webcast will be available on a temporary basis
shortly after the event at the same location.
For more information on SolarWinds, the acquisition, and SolarWinds' IT
management solutions, please visit solarwinds.com.
Forward-Looking Statements
This press release contains "forward-looking" statements, which are subject to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995, including statements regarding the ability of SolarWinds to integrate the
acquisition, the existence of and its ability to respond to demand for log and
event management and the closing of the acquisition. These forward-looking
statements are based on management's beliefs and assumptions and on information
currently available to management. Forward-looking statements include all
statements that are not historical facts and may be identified by terms such as
"will," "plans," "believes," "intends" or similar expressions and the negatives
of those terms. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Factors that
could cause or contribute to such differences include, but are not limited to,
the following: (a) the possibility that general economic conditions or
uncertainty cause information technology spending to be reduced or purchasing
decisions to be delayed; (b) the inability to increase sales to existing
customers and to attract new customers; (c) SolarWinds' failure to integrate
acquired businesses and any future acquisitions successfully; (d) the timing and
success of new product introductions by SolarWinds or its competitors; (e)
changes in SolarWinds' pricing policies or those of its competitors; and (f) such
other risks and uncertainties described more fully in documents filed with or
furnished to the Securities and Exchange Commission, including the Form 10-Q
filed on May 6, 2011. All information provided in this release is as of the date
hereof and SolarWinds undertakes no duty to update this information except as
required by law.
About SolarWinds
SolarWinds (SWI) provides powerful and affordable IT management software to
customers worldwide -- from Fortune 500 enterprises to small businesses. We work
to put our users first and remove the obstacles that have become "status quo" in
traditional enterprise software. SolarWinds products are downloadable, easy to
use and maintain, and provide the power, scale, and flexibility needed to address
users' management priorities. Our online user community, thwack, is a
gathering-place where tens of thousands of IT pros solve problems, share
technology, and participate in product development for all of SolarWinds'
products. Learn more today at solarwinds.com.
SolarWinds and SolarWinds.com are registered trademarks of SolarWinds. All other
company and product names mentioned are used only for identification purposes and
may be trademarks or registered trademarks of their respective companies.
CONTACTS:
Investors:
Dave Hafner
Phone: 512.682.9867
Email Contact
Media:
Tiffany Nels
Phone: 512.682.9545
Email Contact
SOURCE: SolarWinds |
