GP Bullhound advises Pingdom on sale to SolarWinds
Stockholm, 18 June 2014 – GP Bullhound, the international technology investment bank, acted as the exclusive financial advisor to Pingdom AB (“Pingdom”) on its sale to SolarWinds (NYSE: SWI) (“SolarWinds”).
Pingdom, a privately-owned Software-as-a-Service company based in Västerås, Sweden, delivers website uptime monitoring services and performance management solutions to companies and website owners globally.
Publicly listed SolarWinds, a leading provider of powerful and affordable on-premise IT management software based in Austin, Texas, has agreed to acquire 100% of Pingdom for an undisclosed amount.
“At Pingdom we strive to make the web faster and more reliable. We do this by creating powerful and easy to use tools. During the past two years we have worked hard to lay a good foundation, and now we believe we are ready to take our business and products to a new level” said Sam Nurmi, Founder and CEO of Pingdom.
He continues: “We believe that joining SolarWinds allows us to continue to realise our goals. We also believe that new opportunities can be created through the combination of the two companies. We are very excited to be part of the SolarWinds family”.
“I am very happy with the help GP Bullhound gave us, which resulted in a successful transaction”, commented Nurmi.
SolarWinds Chief Financial Officer Jason Ream commented: “The acquisition of Pingdom will allow SolarWinds to expand beyond its traditional on premise IT Management stronghold to support the evolution of performance management from on premise IT, to IT as a Service, to IT in the Cloud.”
This represents the completion of GP Bullhound’s 13th transaction in 2014 and further highlights the firm’s commitment to working with category leaders.
For enquiries please contact Per Roman, Managing Partner, firstname.lastname@example.org
Pingdom is a website and performance monitoring company dedicated to making the web faster and more reliable. This is accomplished by creating easy to use tools and services for website owners, regardless of who they are and what size their websites are. The company was founded in 2007 by Sam Nurmi (who previously founded Sweden’s biggest web hosting company Loopia), Pingdom was in part started out of frustration that there was no affordable services available for website owners to monitor outages. Today Pingdom has earned the trust of more than 500,000 customers in over 200 countries including Spotify, Microsoft, Instagram, Twitter, Ebay, GitHub, MailChimp, and more. The technology behind Pingdom is proprietary, which allows for an unparalleled ability to satisfy customers’ current and future monitoring needs.
SolarWinds provides powerful and affordable IT operations management software to more than 150,000 customer worldwide — from Fortune 500 enterprises to small businesses. SolarWinds’ products are downloadable, easy to use and maintain, and provide the power, scale, and flexibility needed to manage today’s IT environments. SolarWinds’ growing online community, thwack, offers users problem-solving and technology-sharing for all of SolarWinds’ products. This active user-community input is combined with decades of IT management experience to deliver a wide range of solutions and tools to address the real-world needs of IT professionals. More information is available at www.solarwinds.com
GP Bullhound is an international technology investment banking group with offices in London, San Francisco, Stockholm, Berlin and Manchester. Founded in 1999, GP Bullhound provides world-class advice on mergers, acquisitions and private placements to a diverse range of corporate clients, institutional investors and high net worth individuals.
Combining a true love for entrepreneurship and innovation with deep global buyer relations and sector expertise, GP Bullhound has completed transactions for many category leaders, most recently selling Cambridge Technology Partners to Atos, Pozitron to Monitise, Pure360 to SEP, Tunigo to Spotify, and Fjord to Accenture. For more information, please visit www.gpbullhound.com.
In 2013, GP Bullhound was awarded Boutique Investment Bank of the Year and Leading Advisers of the Year by the Acquisition International M&A Awards, and Manish Madhvani, a Founding Partner of GP Bullhound was named as a winner of the fourth annual M&A Advisor 40 Under 40 Award.