N-Able boosts sales amid growing acquisition interest

N-Able, a U.S. IT software provider with a market value of $2.3 billion, is considering a sale after gaining takeover interest, people familiar with the matter said.

Sources say the Burlington, Massachusetts-based company, whose main investors include two private equity firms, Silver Lake and Thoma Bravo, is conducting a sale process that involves partners from the software sector and private equity firms. One of his suitors is cybersecurity firm Barracuda Networks, which is owned by buyout firm KKR, the sources added, cautioning that no deal is certain and asking not to be named because of the confidential nature of the matter. KKR acquired Barracuda from Thoma Bravo for approximately $4 billion in 2022.

Silver Lake, N-Able and KKR declined to comment. Thoma Bravo and Barracuda did not immediately respond to requests for comment. N-Able was spun off in 2021 from management software company SolarWinds, which in turn was acquired by Silver Lake and Thoma Bravo in 2016 for $4.5 billion. The two buyout companies now own about one-third of N-Able.

The company produces software used by information technology companies to provide enterprise services such as monitoring and security. According to its website, N-Able counts 25,000 service providers among its customers. According to Dealogic, global take-private transaction volume has increased by almost 40% this year compared to the same period in 2023.

As previously reported by Reuters, education software providers PowerSchool and Instructure are currently in talks with buyout firms to be taken private. As Reuters reported in April, financial technology company Envestnet is considering selling after receiving interest from potential buyers.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)