N-able, formerly SolarWinds MSP, has completed its rebrand as part of a multi-step plan toward an expected spin-off from parent SolarWinds. Here are 10 things to know about the rebrand and anticipated spin-off.
1. N-able Website: The official website is now www.n-able.com. Both nable.com and SolarWindsMSP.com redirect to that URL.
2. Name Background: N-able is a familiar brand to longtime MSPs. Indeed, the name originally involved an RMM (remote monitoring and management) software provider that SolarWinds acquired in 2013.
3. Partner Ecosystem: N-able supports about 25,000 MSPs. Those MSPs, in turn, support over 500,000 end-customers, SolarWinds CEO Sudhakar Ramakrishna said during the company's earnings call in February 2021.
4. Annual Revenue: N-able product revenue was $302.5 million for the year ended December 31, 2020, up 15 percent compared to $263.4 million in the previous year, according to an SEC filing. That's roughly $12,100 per MSP per year.
5. Executive Leadership: John Pagliuca is president of the N-able business division, and will become CEO of the business as part of the spin-off from SolarWinds.
6. Spin-Off Timing: The potential N-able spin-off from SolaWinds is expected to happen sometime in Q2 of 2021.
7. Ownership: After the spin-off, N-able shares will be traded as a publicly held company. The company's owners will be familiar names: SolarWinds, Solarwinds shareholders, Thoma Bravo and Silver Lake.
8. Security: The N-able team will have a dedicated CISO (chief information security officer) and cybersecurity team. Also of note: An internal audit determined that the SolarWinds Orion hack, disclosed in December 2020, did not target N-able's software.
9. Reason for Spin-Off: SolarWinds believes spinning off N-able will allow the parent and the spin-off to focus on their respective business models more effectively. In particular, it sounds like N-able will focus on growth and tuck-in acquisitions, while being freed from SolarWinds' overall profit targets on Wall Street.
10. Key Products: N-able's product portfolio includes two RMM (remote monitoring and management) software platforms; various security and data protection services; various business management software. A chart of the offerings, from a recent SEC filing, is. below:
