SolarWinds (SWI) IPO Surges Higher

May 20, 2009 9:51 AM EDT

Today's IPO for SolarWinds, Inc. (NYSE: SWI) is open for trading. Shares are trading at $14.90 after pricing 12,116,279 shares of its common stock at $12.50 per share, above the expected range of $9.50 and $11.50.

J.P. Morgan Securities Inc., Goldman, Sachs & Co., and Morgan Stanley & Co. Incorporated are acting as joint book-running managers for the offering. Jefferies & Company, Inc., Thomas Weisel Partners LLC and Ladenburg Thalmann & Co. Inc. are the co-managers of the offering.

SolarWinds provides powerful, simple and affordable network management software to more than 80,000 customers worldwide – from Fortune 500 enterprises to small businesses. Focused on the real-world needs of network professionals, SolarWinds products are downloadable, easy to use and maintain, and provide the power, scale, and flexibility needed to manage today's complex network environments. SolarWinds' growing online community, thwack, offers users problem-solving and technology-sharing for all of SolarWinds' products.

For the years ended December 31, 2006, 2007 and 2008 and the three months ended March 31, 2009, SolarWinds generated revenue of $38.2 million, $61.7 million, $93.1 million and $24.1 million, respectively. In the same periods, SolarWinds had operating income of $25.4 million, $30.9 million, $42.0 million and $10.0 million and Adjusted EBITDA of $27.1 million, $35.4 million, $48.4 million and $12.1 million, respectively.

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• JPMorgan
• Morgan Stanley
• Jefferies & Co
• Thomas Weisel Partners Group
• Ladenburg Thalmann Financial Services

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