Texas networking company buys Post Falls firm TriGeo for $35 million
Publicly traded Texas company SolarWinds Inc. has bought Post Falls technology firm TriGeo Network Security for $35 million.
TriGeo was founded by CEO and President Michelle Dickman in 2001. The sale closed Wednesday.
Dickman, the majority shareholder in TriGeo, will not remain in those positions.
SolarWinds, based in Austin, develops network management tools, applications and storage management software. It was founded in 1999.
TriGeo has developed a series of security products that monitor and track corporate networks and protect against unauthorized intrusions, data leaks or external threats.
The acquisition of TriGeo’s security tools gives SolarWinds a strong base for expanding into corporate security services, said SolarWinds CEO Kevin Thompson in a release.
The Post Falls office will remain indefinitely, a SolarWinds spokeswoman said on background. TriGeo has about 60 employees in Idaho.
For this year’s first quarter SolarWinds reported earnings of $11.7 million or 16 cents per share. Privately held TriGeo’s financials are not disclosed.
TriGeo’s primary customers are in financial services , healthcare, government, utility, retail, and media and entertainment.
Its primary product, the TriGeo SIM (security information manager) module has won a range of tech awards. It was chosen among the 2007 Frost & Sullivan North American Technology Innovation of the Year awards.