Wednesday, May 20, 2009

SolarWinds Raises $151.4M In IPO

Austin-based SolarWinds, a developer of network management software, has broken the technology IPO drought, and raised $151.4M in its IPO debut this morning. The firm, which is trading on the NYSE under the symbol SWI, priced above its recent estimated debut range of $9.50 and $11.50 per share. The IPO is the first for a venture-funded, technology startup since August of last year. The firm's stock opened at $15.00 a share this morning and was up in Wednesday trading. Insight Venture Partners and Bain Capital Venture were the venture backers of SolarWinds.