(Updates with stock price movement in the headline and first paragraph as well as additional details in the fourth paragraph.)
SolarWinds (SWI) shares were up about 23% in recent trading on Friday after it agreed to a $4.4 billion takeover offer.
The company said it has entered into a definitive agreement to be acquired by Turn/River Capital in an all-cash deal for $18.50 per share.
The per-share price represents a roughly 35% premium to the volume-weighted average closing price of SolarWinds stock for the 90 days ended on Feb. 6, the company added.
SolarWinds said it expects to close the transaction in Q2 and has also secured approval from majority shareholders, Thoma Bravo and Silver Lake, with about 65% stake together.
Price: 18.49, Change: +3.46, Percent Change: +22.99
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