10 Firms Post Double-Digit Gains on Friday

3. SolarWinds Corp. (NYSE:SWI)

SolarWinds (SWI) surged by 21.82 percent on Friday to end at $18.31 apiece as investors gobbled up shares to secure profits following the company’s planned delisting from the stock exchange.

In a statement, SWI said it reached an agreement with Turn/River Capital to be acquired by the latter for $4.4 billion. The tender offer was priced at $18.5 apiece, representing a 35-percent premium over its average closing price in the past 90 days.

SWI said the acquisition was expected to be completed by the second quarter of 2025.

Its majority shareholders, Thoma Bravo and Silver Lake, which control 65 percent of SWI, have already given their written consent for the acquisition.

“We now look forward to partnering with Turn/River to deliver operational resilience solutions for our customers on our SolarWinds Platform, leveraging our premier observability, monitoring, and service desk solutions,” said SWI President and CEO Sudhakar Ramakrishna.