SolarWinds Corporation - SWI STOCK NEWS

SolarWinds Corporation (NYSE:SWI) and N-able, Inc. (NYSE:NABL) announced a private placement financing transaction, where N-able will raise approximately $225 million by issuing 20,623,282 shares at $10.91 per share. The placement, led by Canada Pension Plan Investment Board, is scheduled to close on July 19, 2021. Net proceeds, estimated at $216 million, will be distributed to SolarWinds and are intended to either benefit stockholders or reduce existing debt. Notably, this transaction is exempt from registration under the Securities Act.

SolarWinds (NYSE:SWI) is a key sponsor of the upcoming Service Management World virtual conference on July 21-22, 2021. The event will feature technical sessions by SolarWinds Head Geek, Chrystal Taylor, focusing on IT service management (ITSM) strategies. Key topics include monitoring, automation, and meaningful metrics for service management. SolarWinds will showcase its ITSM solutions, designed to streamline workflows and improve employee resource access.

SolarWinds (NYSE: SWI) announced key dates for its spin-off of the MSP business into a new public company, N-able, with a record date of July 12, 2021, and an anticipated distribution date of July 19, 2021. Shareholders will receive one share of N-able common stock for every two shares of SolarWinds common stock they hold, and the distribution is intended to be tax-free, excluding cash for fractional shares. The U.S. SEC has declared N-able's Registration Statement effective. Furthermore, a reverse stock split of SolarWinds shares will occur on July 1, 2021, with a ratio between 2:1 and 4:1.

N-able, formerly SolarWinds MSP, launched the N-able MSP Super Elite partner program during the 2021 N-able EMPOWER event. This prestigious designation recognizes around 200 top-performing managed services providers (MSPs) who represent the top 1% of over 25,000 global MSPs. Members must manage over 5,000 devices and demonstrate consistent growth and exceptional service. The initiative enhances collaboration and influence between N-able and its elite partners, promoting innovation and shared best practices. Additionally, the N-able AllStar Program was introduced to reward engaged MSP partners.

N-able, the technology partner for managed services providers (MSPs), has appointed Jeff Nulsen as its new chief marketing officer. Nulsen's extensive experience includes senior roles at Bluehost and Vistaprint, where he led marketing and product initiatives. His focus will be on amplifying N-able's brand and strengthening partnerships with MSPs. President John Pagliuca emphasized Nulsen's strategic vision as crucial for driving the company's mission to empower MSP partners and support their growth in the digital era.

N-able, formerly SolarWinds MSP, has launched MarketBuilder, a platform designed to equip managed services providers (MSPs) with customizable marketing campaigns. This initiative has already seen over 40,000 emails sent by users and more than 1,000 social media posts per month aimed at lead generation. Additionally, N-able has expanded its Head Nerds team by welcoming three new experts to provide tailored support and training for MSP partners, enhancing their ability to foster business growth and adapt to the evolving digital landscape.

N-able, formerly SolarWinds MSP, has announced the active participation of over 50 technology providers in its Technology Alliance Program (TAP). Major companies like Cisco, Sophos, and Webroot are included, alongside emerging innovators such as Liongard and Zomentum. This program aims to enhance offerings for managed services providers (MSPs) by providing access to integrated tools. Additionally, TAP encourages members to offer discounts and incentives. N-able is running a 'TAP Tank' series at its upcoming EMPOWER event to showcase partnerships and foster collaboration.

SolarWinds (NYSE:SWI) has launched the Database Insights for SQL Server, enhancing its database performance management portfolio. This new product integrates the capabilities of the award-winning Database Performance Analyzer and SQL Sentry into a single solution. It offers advanced anomaly detection powered by machine learning and comprehensive monitoring of over 20 database platforms. The initiative is a response to the growing complexity and demand for efficient database management as organizations manage more databases, with many considering them critical to business success.