Seth Boro, Thoma Bravo: LANDesk Software Bought - Will Become an Independent

August 25, 2010

LANDesk Software, a global leader in systems lifecycle management, endpoint security and IT service management, today announced

Thoma Bravo, a private equity investment firm has entered into a definitive agreement to purchase LANDesk Software from Emerson. 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 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."

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.