LANDesk Software to Be Acquired by Thoma Bravo
Systems lifecycle management, endpoint security and IT service management specialist LANDesk announced Thoma Bravo, a private equity investment firm, has entered into an agreement to purchase LANDesk Software from Emerson. Financial details were not disclosed. The acquisition is expected to close by the end of September. At the time of acquisition close, Steve Daly, executive vice president and general manager of LANDesk, will become the CEO of LANDesk.
In a joint release, the companies said the move aims to accelerate LANDesk's revenue growth and solidify its leadership position in delivering an integrated portfolio for simplifying the management of desktops, servers and mobile devices across the full spectrum of an organization's IT environment.
Daly said the backing by Thoma Bravo would create a very clear and focused opportunity for LANDesk employees, customers and business partners. "LANDesk customers will benefit from our singular dedication to innovating throughout our key solutions - systems lifecycle management, endpoint security, IT service management - and our advancement in delivering process-based solutions to help simplify IT complexity and align IT to provide greater business value," he said.
Headquartered in Salt Lake City, LANDesk currently employs approximately 750 people around the world. The company offers a variety of services and solutions, including a management suite, a security suite, a patch manager and application virtualization in addition to its systems lifecycle management, endpoint security management and IT asset management services.
"LANDesk is uniquely positioned in the software industry, and Thoma Bravo is confident we can further accelerate the company's growth through our proven buy and build investment strategy," said Robert Sayle, a vice president at Thoma Bravo. "We look forward to implementing operational best practices and exploring strategic investment opportunities with LANDesk."
Thoma Bravo was founded to create value through the strategic use of acquisitions to accelerate business growth. The company applies its investment strategy across multiple industries with a particular focus on the software and services sectors. In the software industry, the company boasted it has completed more than 50 acquisitions across 15 platform companies with total annual earnings of more than $700 million.
"There are about 500 million PCs or laptops in the corporate environment today, with five billion IP-connected devices. Estimates indicate there will be 50 billion IP-connected devices in the world by 2020," Daly said. "With the assistance of Thoma Bravo, we will remain the leader in IT management and continue to focus on helping our customers manage and secure their systems, regardless of device type, platform or location."