SolarWinds Inc. (NYSE: SWI), a developer of information technology (IT) management software that first caught our eye when it went public in 2009--a dim year for initial public offerings--continues to shine.
In July, the Austin, Texas company announced its latest purchase: Web Help Desk, a provider of online help desk software to IT professionals, for $20 million. (No outside attorneys or bankers were used in the deal.)
News of the transaction was delivered along with the company's second-quarter earnings. SolarWinds reported revenue of $64 million for the quarter, marking a record for the company and representing 40 percent year-over-year growth.
Buying Web Help Desk of Fremont, Calif. will "expand the number of IT management problems that we solve, through a cross-platform, Web-based IT Help Desk product that is well known and widely trusted by IT professionals," SolarWinds CEO Kevin Thompson tell us.
The deal is the latest in a long line of purchases for the software developer, which was founded in 1999. Previous acquisitions include: Tek-Tools Inc., which makes products that measure the performance of storage and virtualized server infrastructures, for cash and stock valued up to $42 million; Hyper9, which provides virtualization management software, for $23 million; and TriGeo Network Security Inc., a provider of log and event management software, for $35 million.