LANDesk Software has been acquired by Thoma Bravo
Only yesterday, CXOtoday.com had reported that LANDesk Software, an enterprise IT management solutions provider, was going to be sold this week. The company has released a statement that it has been acquired by Thoma Bravo – a private equity investment firm. Financial details of the acquisition, which is expected to close by the end of September, have not been disclosed. When the acquisition does close, Steve Daly, executive vice president and general manager of LANDesk, will become the CEO of LANDesk.
“Thoma Bravo partners with existing management teams that have the vision to be leaders in their industries,” said Seth Boro, a principal at Thoma Bravo. “We feel strongly the LANDesk team will be a valuable partner in our joint effort to solidify the company’s leadership in IT systems management.”
By entering into a ‘definitive agreement to purchase LANDesk Software from Emerson‘ (NYSE: EMR), Thoma Bravo is looking to accelerate LANDesk’s revenue growth and solidify its position in delivering its integrated portfolio of managing desktops, servers and mobile devices in an organization’s IT environment.
“The backing by Thoma Bravo will create a very clear and focused opportunity for LANDesk employees, customers and business partners,” said Steve Daly. “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.”
According to Robert Sayle, vice president at Thoma Bravo, LANDesk is uniquely positioned in the software industry and he feels the private equity investment firm can further accelerate the company’s growth through its “buy and build investment strategy.” The firm will instill its operational best practices and explore investment opportunities with LANDesk.
Daly views the proliferation of computing devices in a corporate network as a veritable market opportunity. “There are about five hundred million PCs or laptops in the corporate environment today, with five billion IP-connected devices. Estimates indicate there will be fifty billion IP-connected devices in the world by 2020,” continued Daly. “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.”
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