By Kailyn Rhone
Software company N-able said Wednesday it has acquired cybersecurity platform and existing strategic partner Adlumin.
The deal will include about $100 million cash and 1.58 million shares on the closing date. The acquisition also includes cash installments of $52.5 million and $67.5 million on the first and second anniversaries of closing the closing date.
The deal will have up to $30 million of potential cash earn-outs payable in 2025 and 2026 based on certain performance metrics for 2024 and 2025.
N-able said the acquisition will help scale its security portfolio and fast-growing annual recurring revenue from the existing partnership, and deliver deeper insights and remediation across internal IT teams.
"We determined that we could scale our business faster if we owned it," said Chief Executive John Pagliuca.
For the fourth quarter, N-able now expects revenue to be between $113.3 million to $114.8 million. For the full-year, the company expects revenue to grow 10% in the range of $463 million to $464.5 million.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
November 20, 2024 17:17 ET (22:17 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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