About the Client
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. Pingdom is a 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.
About the Deal
GP Bullhound acted as the exclusive financial advisor to Pingdom AB (“Pingdom”) on its sale to SolarWinds (NYSE: SWI) (“SolarWinds”). 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.”