MORRISVILLE – N-able, Inc., a spin off of SolarWinds, is now a publicly traded company, following the completion of the separation of the SolarWinds managed service provider (MSP) division that became N-able, with plans to expand in the Triangle.
“As the company continues to grow, Raleigh-Durham is an area that we’re looking to grow the fastest, globally,” said Kevin Bury, senior vice president and chief customer officer of N-able. “It’s an exciting time, it validates what we’ve been working for, and working towards,”
The company has about 230 employees in the Triangle, currently, and operates from an office in Morrisville. Bury, who is relocating to the Triangle from Austin, Texas, to be the executive site lead for the Triangle office, said that the company has plans to hire about 20-25 more positions by the end of the quarter, and that the Triangle office could eventually have 400 employees.
“The Triangle is a really important hub for us,” said Bury. “One that, based on the opportunity, is such a great place to hire people.”
“When we think about going and tapping into top talent, we’ve got wonderful universities in the area,” said Bury. “And we’ve got very good neighbors in the Triangle.”
Following the separation on July 19, 2021, N-able will now provide cloud-based software solutions for managed service providers, the company shared in a statement.
Company common stock will trade on the New York Stock Exchange under the ticker symbol “NABL,” and SolarWinds stockholders of record–as of close of business on July 12, 2021–received one share of N-able common stock for every two shares of SolarWinds common stock held, with cash being received for any fractional shares.
“We’re focused on what we’re doing, which is helping the MSP market,” said Bury. “They need the tools, they need the guidance, and that’s what N-able is all about, enabling them to build, scale, and manage their businesses.”
N-able executives will ring the closing bell at the New York Stock Exchange today. Bury noted in an interview with WRAL TechWire that company executives also received the opportunity to celebrate the first order of N-able stock sold on the exchange.
“The spin-off will allow N-able to accelerate revenue expansion by prioritizing its investments toward capitalizing on the significant growth opportunities that exist,” a spokesperson for the company told WRAL TechWire earlier this week.
Bury said that, now that the company will be publicly traded, there are additional opportunities and pathways for growth.
Part of that planned growth is hiring globally, including at least 23 positions in Morrisville, according to the company’s career website.
“We are a company that makes tools and provides services to help MSPs grow, and manage, and scale their businesses,” said Bury, noting that the customer service orientation is a core quality the company seeks in applicants for positions. “If we don’t have the team that shows up in a way that shows they want to help, and serve, and help these companies grow, we can’t get there.”
“Our success is predicated on our partners success,” said Bury. “We have to do everything in our power to help them be successful.”
Prior to the spin off of N-able, SolarWinds was the target of hacking, that company president and CEO Sudhakar Ramakrishna said in May 2020 could have begun as early as January 2018.
“The tradecraft that the attackers used was extremely well done and extremely sophisticated, where they did everything possible to hide in plain sight, so to speak,” Ramakrishna said during a discussion hosted by the RSA Conference.
In April 2019, SolarWinds acquired Cary-based Samanage for some $350 million. SolarWinds maintains an operation in Cary. Over seven years, Samanage had built a product guided by a customer-centricity that aligned well with SolarWinds’ mission of serving the technology professional community, which in part led to the acquisition. Samanage launched in 2007 and had some 150 employees at the time of the acquisition.
SolarWinds has a separate office in the Triangle, said Bury, with about 50 employees.