images-9SolarWinds announced it has signed an agreement to buy N-able Technologies for $120 million in cash.
Austin-based Solarwinds, which makes information technology management software, expects the deal to close by the end of May.
N-able, based in Ottawa, Canada, makes remote monitoring, management and service automated software that is based in what has come to be known as the Cloud, computing resources such as hardware and software accessible over a network from a remote location.
“Upon completion of the acquisition, the addition of N-able to the SolarWinds family gives us the opportunity to respond to a growing need in the IT industry,” Kevin Thompson, SolarWinds’ President and CEO said in a news release.