It’s official. SolarWinds has completed its spinoff of N-able, which is now an independent, publicly traded company.

SolarWinds announced the planned spinoff of its MSP business last August. SolarWinds MSP then rebranded to N-able in January.

N-able’s stock is trading on the New York Stock Exchange under the ticker symbol of “NABL.” The stock opened at $15.37 a share, but didn’t live up to expectations on day one. By the end of the trading day, it has dropped nearly 22%, to $12.50. (The N-able team, pictured above, rang the closing bell at the NYSE on Tuesday.)

N-able provides cloud-based software solutions for MSPs. It enables them to support digital transformation and growth within small and medium businesses. SolarWinds retained its core IT management business, which primarily focuses on providing IT infrastructure management software to corporate IT organizations.

N-able’s John Pagliuca

On July 12, N-able announced $225 million in new investment funds as part of the company’s game plan.

John Pagliuca is N-able’s CEO. He said in addition to a distribution to SolarWinds shareholders and paying down debt, the funds raised also position N-able for long-term growth investments that serve its MSP partners.

He also said the company’s No. 1 financial priority is building “a diverse base of shareholders that are focused on N-able’s long-term growth.”

Mike Cullen is N-able‘s group vice president of partner enablement. He said N-able’s goal is to hit $340 million in revenue by the end of the year, and to “really get in touch with our customers as that is the primary focus.”

N-able’s Mike Cullen

“We’ve been a public company off and on for the last seven years, so that part’s not new to us,” he said. “I think it’s really positive. I think transparency for this industry is important for people to recognize the caliber of company that they’re doing business with. So we welcome the transparency that we’ll have.”

Wholly Focused on MSPs

Mike Adler is N-able‘s chief technical and chief product officer.

“I think MSPs can really depend on us to really focus on MSPs,” he said. “I think the main driver for this whole action is creating a company that is wholly focused on helping MSPs be successful in their job. And so I think from our point of view, they should expect us to continue to be highly focused on them, and ensuring and building towards their success overall.”

N-able’s Mike Adler

Cullen said N-able has a lot of good competitors, but its advantage is how it support its customers.

“Of course, we have a very high bar on our technology, but we invest very heavily in success programs, whether it’s our customer success reps or our education facilities, or our Head Nerds program,” he said. “We’re constantly finding ways to listen to our customers and invest in them to support them to success.”

Cullen said there will be a single focus from N-able on its partners.

“I think that’s one of the reasons for the spinoff,” he said.

Alder said beyond Tuesday’s celebration, “we look forward to really continuing to support our customer base and our partners in ensuring their growth.”