Silver Lake, Thoma Bravo-Backed SolarWinds Said to Mull Sale (1)

SolarWinds Corp., a publicly traded software company controlled by Silver Lake Management and Thoma Bravo, is exploring options including a potential sale, according to people familiar with the matter.

The Austin-based company is working with financial advisers to prepare a sale process that is expected to kick off early next year, said the people, who asked to not be identified because the details aren’t public. No final decision has been made and SolarWinds could opt to remain independent, the people said.

SolarWinds, whose shares had fallen about 44% since it went public in 2018, rose as much as ...