Thoma Bravo has agreed to acquire LANDesk Software from Emerson (NYSE: EMR). No financial terms were disclosed. LANDesk is a Salt Lake City-based provider of systems lifecycle management, endpoint security and IT service management.
LANDesk Software, a global leader in systems lifecycle management, endpoint security and IT service management, today announced Thoma Bravo, a leading private equity investment firm, has entered into a definitive agreement to purchase LANDesk Software from Emerson [NYSE: EMR]. 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.
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.
“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.”
“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.”
“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,” added Robert Sayle, a vice president at Thoma Bravo. “We look forward to implementing operational best practices and exploring strategic investment opportunities with LANDesk.”
“There are about five hundred million PC’s 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.”
Headquartered in Salt Lake City, Utah, LANDesk revenue has grown at a compound annual growth rate of 20 percent since 2002. LANDesk currently employs approximately 750 people around the world and has thousands of customers worldwide actively using its solutions.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 29 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo applies its investment strategy across multiple industries with a particular focus on the software and services sectors. In the software industry, Thoma Bravo has completed more than 50 acquisitions across 15 platform companies with total annual earnings in excess of $700 million. For more information on Thoma Bravo, visit www.thomabravo.com.
About LANDesk Software
LANDesk Software is a leading provider of systems lifecycle management, endpoint security and IT service management solutions for desktops, servers and mobile devices across the enterprise. LANDesk simplifies the growing complexity of IT with a single console, light infrastructure, and ITIL solutions that deliver significant value and ROI for thousands of customers worldwide. LANDesk is headquartered in Salt Lake City, Utah, with offices located in the Americas, Europe and Asia Pacific, and can be found at www.landesk.com.
Emerson, based in St. Louis, Missouri, USA, is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2009 were $20.9 billion. For more information, visit www.Emerson.com.