Private equity firm Thoma Bravo buys LANDesk
A private equity firm has acquired LANDesk Software, maker of enterprise IT management solutions, the two companies announced Monday.
Terms of the deal, scheduled to close by the end of September, were not disclosed.
Thoma Bravo, which bought encryption and digital certificate firm Entrust last year, is purchasing West Jordan, Utah-based LANDesk from Emerson, a manufacturing and technology company. Emerson became the owner of LANDesk when it purchased Avocent in December.
Avocent, which makes connectivity solutions for corporate data centers, had acquired LANDesk in 2006 for $416 million. But Emerson decided LANDesk did not fit with its strategy, and it put the unit up for sale earlier this year.
"Partnering with a private equity firm that has a long history of success within its software and technology portfolio will support this growth with great resources and experience we can leverage," said Steve Daly, executive vice president and general manager of LANDesk. "Moving forward, LANDesk will be able to focus on our key strengths with product development clarity and the ability to innovate appropriately and pursue necessary acquisitions to deliver expanded capabilities in our product portfolio.”
LANDesk, which reported a 20-percent compound annual growth rate since 2002, makes systems lifecycle management, IT service management, endpoint management and asset management products.