[By NBC-1TV H. J Yook]SolarWinds® (NYSE: SWI), a leading provider of powerful and affordable IT management software, today announced that it has entered into a definitive agreement to acquire privately held N-able Technologies, a leader in Cloud-based remote monitoring and management (RMM) and service automation software for Managed Service Providers (MSPs). SolarWinds is acquiring N-able for $120 million in cash. The company expects the acquisition to close before the end of May.

“Upon completion of the acquisition, the addition of N-able to the SolarWinds family gives us the opportunity to respond to a growing need in the IT industry. As more and more small businesses begin exploring ways to deploy and efficiently manage IT and SaaS-based technologies to drive their businesses, MSPs are stepping up with Cloud-based services designed to help ensure that IT environments are maintained and employees have the access and device support that they need to get their jobs done. We‘re excited to expand into another highly complementary branch of IT management that we believe is ripe for our disruptive go-to-market model,” said Kevin Thompson, SolarWinds’ President and CEO.

“N-able is very excited about this opportunity to join forces with SolarWinds to continue our mission to serve the MSP market and drive this next phase of growth,” said Gavin Garbutt, CEO and Co-Founder, N-able Technologies. “We feel that this merger is a reflection of our industry-leading position and growth, the quality of our products and, most importantly, the performance of the N-able team worldwide.”