Needham & Company Downgrades SolarWinds (SWI) to Hold Following Takeover
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October 21, 2015 1:13 PM EDT
JMP Securities downgraded SolarWinds (NYSE: SWI) from Market Outperform to Market Perform and removed its price target (prior $55.00).
For an analyst ratings summary and ratings history on SolarWinds click here. For more ratings news on SolarWinds click here.
Shares of SolarWinds closed at $50.20 yesterday.
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October 21, 2015 9:40 AM EDT
SolarWinds (NYSE: SWI) announced that it has entered into a definitive agreement to be acquired by leading private equity technology investment firms Silver Lake Partners and Thoma Bravo, LLC. Under the terms of the agreement, SolarWinds stockholders will receive $60.10 per share or approximately $4.5 billion in cash. The agreement was approved by SolarWinds' Board of Directors following a comprehensive review of strategic alternatives.
"This transaction recognizes the strength of our unique business model and provides our shareholders with immediate and substantial cash value at a compelling premium," said Kevin B. Thompson, President and Chief... More
