The Austin-based publicly traded IT services company has gone through IPOs, buyouts and has acquired more than a dozen companies.
On Thursday, it made one of its largest deals yet. It announced it is acquiring a Raleigh, North Carolina area IT service desk solution company called Samanage for $350 million. The deal is expected to close in the second quarter.
“We believe that a powerful, market-leading ITSM solution offers us another compelling product to enhance our ability to serve IT professionals in organizations of all sizes while meaningfully expanding our total addressable market, including additional cross-sell opportunities within our large and expanding customer-base of more than 300,000 customers,” SolarWinds CEO Kevin Thompson said in a prepared statement.
SolarWinds provides a broad range of IT services, including security, data management, systems management and help desk services.
Since its founding in 1999, SolarWinds has gone through several deals. Most recently, it reentered the public market in an October 2018 IPO that raised about $375 million. It has a market cap around $6 billion.