11:50 AM EST, 02/07/2025 (MT Newswires) -- (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 ( SWI ) stock for the 90 days ended on Feb. 6, the company added.

SolarWinds ( SWI ) 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