N-able, a Burlington, MA-based software company helping IT services providers deliver security, remote monitoring and management, and data protection as-a-service solutions, acquired Adlumin, a Washington, DC-based provider of an enterprise-grade security operations platform for organizations of all sizes.
The aggregate consideration payable by N-able in connection with the acquisition consists of approximately:
(i) $100 million in cash at the closing, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses,
(ii) 1,570,762 shares of the Company’s Common Stock issued at the closing,
(iii) $120 million in cash installments of $52.5 million and $67.5 million, respectively, on the first and second anniversary of the closing, and (iv) up to an aggregate of $30 million in potential cash earn-out payments payable in 2025 and 2026 based upon the achievement of certain performance metrics against defined targets.
With this acquisition, N-able will scale its security portfolio. The deal will be immediately accretive to ARR growth and accretive to cash flow by the fourth quarter of 2025.
Led by CEO Robert Johnston, Adlumin provides a security operations command center that simplifies complexity and keeps organizations of all sizes secure. Its technology and integrations create a platform that empowers channel resellers, service providers and organizations of any size with the collaboration and transparency required to establish a coordinated and mature defense.
Led by CEO and President John Pagliuca, N-able helps IT services providers with software solutions to monitor, manage, and secure their customers’ systems, data, and networks. Built on a scalable platform, it offers infrastructure and tools to simplify complex ecosystems, as well as resources to navigate evolving IT needs. It helps partners in their stage of growth, protect their customers, and expand their offerings with an ever-increasing, flexible portfolio of integrations from leading technology providers.
FinSMEs
25/11/2024