IT management software provider SolarWinds (NYSE: SWI) announced yesterday it acquired Confio, a privately held developer of database performance management software, for $103 million cash.
Confio's software, which helps speed application time-to-market and IT service delivery by improving database performance on traditional and virtual servers, is deployed by 40% of Fortune 50 companies, according to the press release. By integrating Confio's software into its own portfolio of platforms, SolarWinds said it believes there's a significant opportunity to deliver an expanded IT infrastructure to clients.
"In 2011, SolarWinds embarked on a strategic initiative to extend our product portfolio to address the specific needs of today's systems administrators. The addition of Confio to the SolarWinds family provides a critical element to round out our product portfolio in support of this initiative," said SolarWinds President and CEO Kevin Thompson.
Austin, Texas-based SolarWinds is a provider of IT management software for Fortune 500 companies as well as small businesses. It also offers an online user community where IT professionals gather to solve problems, share technology, and participate in product development for SolarWinds' products. As of June 30, SolarWinds had trailing revenues of $295.7 million.
