SolarWinds pays $103 million for Confio
Last Updated: 16:19 October 8, 2013
Confio - a provider of database performance management software that has a sales office in London - has about 70 employees, most of whom are in Boulder. A SolarWinds spokeswoman said that the company expects most Confio employees to accept offers to remain with the company, including Confio's executives.
SolarWinds, a provider of information technology management software, posted second-quarter revenue of $77.5 million and profit of $22.8 million. It has more than 700 employees worldwide and offices in Ireland, Australia, New Zealand, Singapore, India and the Czech Republic in addition to multiple locations in the United States.
"In 2011, SolarWinds embarked on a strategic initiative to extend our product portfolio to address the specific needs of today's systems administrators," SolarWinds president and chief executive Kevin Thompson said in a press release. "The addition of Confio to the SolarWinds family provides a critical element to round out our product portfolio in support of this initiative."
Confio, whose flagship product is Confio Ignite, was founded in 2004 by Matt Larson and has grown rapidly. It enjoyed a 191 percent increase in revenue from 2010 to 2012, going from $5.3 million to $15.4 million. Inc. Magazine last year ranked Confio as one of the fastest-growing companies in the country.
SolarWinds is in a quiet period leading up to the reporting of its third-quarter financial documents with the Securities and Exchange Commission.
But a frequently asked questions document released by the company regarding the Confio acquisition said that SolarWinds will continue to develop, sell and support Confio Ignite. The document stated that more details regarding future product direction, branding and integration will be released later this fall. But it also noted plans to operate Confio as a standalone company in "a very similar manner to that in which it operates today."
More breaking news...
Dillard's 'price' case starts Wednesday
Vail Resorts reports loss for fiscal Q1
Business hall of fame seeking nominations
Each year the hall identifies five to eight businesspeople who exemplify business, cultural and philanthropic initiatives that