Monday, September 24, 2018

SolarWinds Files For IPO, Preps Return To Public Markets

Austin-based SolarWinds, the provider of IT management software, has filed for an IPO, saying in a filing on Friday that it is looking to raise up to $500M in its public offering. SolarWinds says it has applied to list on the New York Stock Exchange (NYSE) under the symbol SWI. The company's IPO is being underwritten by Goldman Sachs, J.P. Morgan, Morgan Stanley, Credit Suisse, plus BofA Merrill Lynch, Barclays, Citigroup, Evercore ISI, Jeffries, Macquarie Capital, Nomura, and RBC Capital Markets. the company's two biggest institutional investors are private equity investors Thoma Bravo and Silver Lake. Thoma Bravo and Silver Lake took SolarWinds private back in 2015.