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SolarWinds Acquires DameWare Development(December 15, 2011)
AUSTIN, TX -- (Marketwire) -- 12/15/11 -- SolarWinds® (NYSE: SWI), a leading provider of powerful and affordable IT management software, today announced that it has acquired certain assets of privately-held DameWare Development LLC for $40 million in cash. DameWare sells software tools to companies that allow system administrators to remotely manage the computers on their networks.
"We're very excited about acquiring these assets. This acquisition is consistent with our strategy of extending our presence and awareness with IT professionals by deepening our capabilities within the systems and application management market," said Kevin Thompson, President and CEO of SolarWinds. "With products that are powerful, yet affordable and easy-to-use, the DameWare software broadens the number of problems we can solve for SysAdmins."
Financial Impact of DameWare
SolarWinds expects sales of the DameWare products to generate approximately $100,000 to $200,000 in revenue and to be break-even on a non-GAAP operating income basis during the remainder of 2011.
This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding SolarWinds' expectation of the financial results related to the acquisition of the DameWare assets for the remainder of 2011. These forward-looking statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as "will," "expect" or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (a) the possibility that general economic conditions or uncertainty cause information technology spending to be reduced or purchasing decisions to be delayed; (b) the inability to increase sales to existing customers and to attract new customers; (c) SolarWinds' failure to integrate acquired businesses and any future acquisitions successfully; (d) the timing and success of new product introductions by SolarWinds or its competitors; (e) changes in SolarWinds' pricing policies or those of its competitors; and (f) such other risks and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission. All information provided in this release is as of the date hereof and SolarWinds undertakes no duty to update this information except as required by law.
Non-GAAP Financial Information
Certain financial information in this press release represents forward-looking non-GAAP financial information, including SolarWinds' estimate of DameWare's non-GAAP operating income for the fourth quarter of 2011. These non-GAAP financial measures exclude, among other things, amortization of intangible assets. SolarWinds cannot reasonably estimate the expected amounts for amortization of intangible assets for these future periods as the amounts depend upon a valuation of the intangible assets that has yet to be determined.
SolarWinds (NYSE: SWI) provides powerful and affordable IT management software to customers worldwide -- from Fortune 500 enterprises to small businesses. We work to put our users first and remove the obstacles that have become "status quo" in traditional enterprise software. SolarWinds products are downloadable, easy to use and maintain, and provide the power, scale, and flexibility needed to address users' management priorities. Our online user community, thwack, is a gathering-place where tens of thousands of IT pros solve problems, share technology, and participate in product development for all of SolarWinds' products. Learn more today at http://www.solarwinds.com.
SolarWinds, SolarWinds.com, thwack and the SolarWinds' logo are registered trademarks of SolarWinds. All other company and product names mentioned are used only for identification purposes and may be trademarks or registered trademarks of their respective companies.
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