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Texas company buys Post Falls tech firm TriGeo Network

Publicly traded Texas company SolarWinds on Wednesday completed its purchase of Post Falls technology firm TriGeo Network Security for $35 million.

TriGeo was founded by CEO and President Michelle Dickman in 2001. 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 news release.

The Post Falls office will remain indefinitely, with no plans announced on whether its worker headcount will change. TriGeo has about 60 employees in Idaho.

SolarWinds reported first quarter 2011 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, health care, 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.