N-able acquires strategic partner Adlumin for $100M

The company states: “N-able (NABL) announced that it has acquired Adlumin, Inc., an award-winning provider of an enterprise-grade security operations platform for organizations of all sizes. Building upon Adlumin’s and N-able’s existing proven partnership providing extended detection and response capabilities and managed detection and response services, the acquisition will allow N-able to incorporate Adlumin’s innovative technology with N-able’s industry-leading platform that combines security, unified endpoint management, and data protection solutions. This powerful combination positions N-able to deliver deeper insights and remediation across the entire IT environment-advancing the evolution of N-able’s cybersecurity portfolio. With this acquisition, N-able aims to scale its security portfolio and fast-growing annual recurring revenue from the existing partnership, and set a new standard of security excellence for managed services providers and internal IT teams. . Adlumin provides security solutions and services for organizations through its agnostic security operations platform that seamlessly integrates with existing infrastructures-enhancing and furthering N-able’s Ecoverse vision. Since launching the partnership with Adlumin, N-able has successfully driven meaningful ARR growth, demonstrating that the combination of XDR software and MDR services with the N-able platform is a differentiator in the market. The unified technologies will deliver a deeper level of security intelligence across the full N-able suite-providing a more holistic cybersecurity solution in lock step with IT management services, addressing the increasing overlap between ITOps and SecOps and making advanced protection accessible to all. 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. N-able anticipates that this acquisition will be immediately accretive to ARR growth and accretive to cash flow by the fourth quarter of 2025.”