SolarWinds (SWI) Commences Review of Strategic Alternatives
SolarWinds (NYSE: SWI) today announced that the Company's board of directors, in response to an unsolicited expression of interest from a third party, has commenced a review of its strategic alternatives. This review may result in the Company's continuing to pursue value-enhancing initiatives as a standalone company or a possible sale or other form of business combination. The Board of Directors has retained J.P. Morgan as its financial advisor and DLA Piper LLP (US) as its legal advisor in connection with the review.
"Consistent with its duties, our board of directors has determined that it is prudent to undertake a review to see which alternative or alternatives, including our standalone plan, are the best way to maximize shareholder value," said Kevin Thompson, the Company's Chief Executive Officer. "As the board conducts its review, we remain focused on strong revenue growth and cash flow and excited about continuing to deliver our world class products to help IT professionals manage all things IT."
No decision has been made to enter into any transaction at this time, and there can be no assurance that the consideration of strategic alternatives will result in any transaction.
There is no set timetable with respect to the board's review, and the Company does not expect to make further public comment regarding these matters unless and until the Board approves a specific action or otherwise concludes its review.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Domtar (UFS) to be Acquired by Paper Excellence for $55.50/Share in $3 Billion Deal
- Research Solutions, Inc. (RSSS) Reports Q3 EPS of $0.00 on Revenues of $8.3M
- CPS Technologies (CPSH) Announces CEO Transition
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Hot M&A, Management Comments, Mergers and Acquisitions, Private Equity, Trading Halts
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!