Private equity investment firm Thoma Bravo is to acquire LANDesk Software from Emerson.
The deal, which is expected to close by the end of September, will see Steve Daly, executive vice president and general manager of LANDesk, become the CEO of LANDesk. Financial details were not disclosed.
Thoma Bravo is a private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 29 years. In the software industry it has completed more than 50 acquisitions across 15 platform companies, with total annual earnings in excess of $700 million.
Seth Boro, a principal at Thoma Bravo, said: “Thoma Bravo partners with existing management teams that have the vision to be leaders in their industries. 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.”
Daly said: “The backing by Thoma Bravo will 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.
“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 50 billion IP connected devices in the world by 2020. 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.”