Friday, March 21, 2008

SolarWinds Files For IPO

Austin-based SolarWinds said in a filing with the SEC Friday afternoon that it is looking to raised up to $250M in an IPO on the NYSE. The firm, which develops network management software, said it will look to trade on the New York Stock Exchange as "SWI." The firm's IPO is being underwritten by JPMorgan, Goldman Sachs & Co., Lehman Brothers, UBS Investment Bank, and Thomas Weisel Partners. According to the filing, the firm had a loss of $6.6M on revenues of $62.7M for the year ended December 31, 2007. SolarWinds is venture backed by Austin Ventures, Bain Capital, and Insight Venture Partners.