By Adriano Marchese
Shares of SolarWinds jumped on Friday after it said it agreed to sell itself for $4.4 billion to San Francisco-based technology investment fund Turn/River Capital.
Shares traded 22% higher at $18.34.
The software development business entered into a definitive agreement to be acquired in an all-cash deal for $18.50 a share, a price that the company said represents a premium of about 35% to the volume-weighted average closing price of its stock over the past 90 trading days to Feb. 6.
SolarWinds is a software company that supports a range of businesses to manage and optimize their systems, networks, and IT infrastructure.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 07, 2025 09:33 ET (14:33 GMT)
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