POST FALLS - The purchase of a private Post Falls software provider for $35 million by a publicly traded firm is being hailed as a shining example of how a local startup company can be catapulted to the national scene.

Austin, Texas-based SolarWinds, a provider of information technology management software, is buying TriGeo in Post Falls for $35 million cash.

TriGeo, a provider of log and event management software that formed in 2001, has about 60 employees at Riverbend Commerce Park.

"We plan to maintain the Post Falls location," said Tiffany Nels, SolarWinds spokeswoman.

Officials from both companies declined to comment on changes because the deal isn't expected to close until July or August.

Steve Griffitts of Jobs Plus, a local economic development agency, said the purchase is a good sign for business and gives the area credibility as he recruits firms here.

"What a great story about the growth of a business in our area that's sold for a lot of money to a New York Stock Exchange listed company, and there's not an issue of them leaving," Griffitts said.

"We're trying to diversity the industries here, and this proves that a software company can start from scratch, expand with existing workforce and develop their product to be recognized nationally for the value we bring. We're not on an island."

TriGeo's flagship product, TriGeo SIM, automatically identifies, notifies and responds to network attacks, suspicious behavior and policy violations.

Solar Winds plans to call the product SolarWinds Log and Event Manager (LEM).

"Like SolarWinds, TriGeo has built a reputation for providing products that are powerful and easy to use," said Kevin Thompson, SolarWinds' president and CEO.

SolarWinds last month reported that its first-quarter profit jumped 31 percent as revenue increased 25 percent. The stock (NYSE: SWI) has risen 43 percent over the past year.