Private equity firm Turn/River Capital has agreed to acquire SolarWinds, a provider of secure observability and IT management software, in a deal worth $4.4bn.

This move will transition SolarWinds from a public entity to a privately held company.

Thoma Bravo and Silver Lake, who together own about 65% of SolarWinds' outstanding voting securities, have consented to the transaction in writing.

Following the closure of the transaction, SolarWinds will delist from the New York Stock Exchange. It will continue its operations as a private entity, maintaining its brand and headquarters in Austin, Texas.

Turn/River Capital founder and managing partner Dominic Ang said: “SolarWinds is a global leader in software that helps a wide range of businesses securely manage and optimize their systems, networks, and IT infrastructure. Their deep commitment to understanding and solving customer needs has led to decades of innovation, impact, and consistent growth.

“We are incredibly excited to partner with SolarWinds. By pairing our team of software operators and investors with their relentless focus on customer success, together we aim to accelerate growth and further innovation.”

SolarWinds president and CEO Sudhakar Ramakrishna said: “We now look forward to partnering with Turn/River to deliver operational resilience solutions for our customers on our SolarWinds Platform, leveraging our premier observability, monitoring, and service desk solutions.”

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