- Today SolarWinds Corporation (NYSE: SWI) announced the completion of the previously announced spin-off of the SolarWinds managed service provider (MSP) business into a standalone, separately-traded public company named N-able. These are the details.
SolarWinds (a leading provider of secure IT management software) and N-able, Inc. (NYSE:NABL), a leading provider of cloud-based software solutions for managed service providers, announced the completion of the previously announced spin-off of the SolarWinds managed service provider (MSP) business into a standalone and separately-traded public company named N-able.
And following the separation — which was completed on July 19, 2021 — N-able will provide cloud-based software solutions for managed service providers (MSPs), enabling them to support digital transformation and growth within small and medium-sized enterprises.
SolarWinds is going to retain its Core IT Management business focused primarily on providing IT infrastructure management software to corporate IT organizations. And N-able common stock will trade on the New York Stock Exchange under the symbol “NABL.”
As previously announced, SolarWinds’ stockholders of record as of the close of business on July 12, 2021 (the record date for the distribution) received one share of N-able common stock for every two shares of SolarWinds common stock held by them as of such date. SolarWinds stockholders received cash in lieu of any fractional shares.