LANDESK Acquired by Clearlake Capital
Clearlake Capital plans on combining LANDESK with Heat Software
Enterprise IT management vendor LANDESK is being acquired by Clearlake Capital in a deal announced on January 3. Financial terms of the acquisition are not being publicly disclosed.
LANDESK is being acquired by Clearlake Capital from private equity investment firm Thoma Bravo. Thoma Bravo acquired LANDESK back in 2010 from Emerson. Over the last six years, LANDESK has acquired seven companies on its own, including patch management vendor Shavlik from VMware in 2013.
"LANDESK was an opportunity that aligned perfectly with Thoma Bravo's buy and build strategy, and our partnership with the company's management has proven to be very successful," Seth Boro, managing partner at Thoma Bravo, said in a statement. "Since our acquisition, the company has improved performance across multiple metrics, including revenue, earnings and operating margins."
Clearlake's plan for LANDESK is to combine the company with its Heat Software division to form a new company. The new combined company does not yet have a name, but it will be led by current LANDESK CEO Steve Daly.
"We are thrilled to work with Clearlake in this next phase of our growth trajectory, as they bring significant endpoint security software domain expertise and cloud experience that will be critical to continue to build our platform organically and through acquisition," Steve Daly, CEO of LANDESK, said in a statement. "HEAT’s products align well with our mission to help our customers build modern, user-centered IT organizations and will provide additional expertise and capabilities as we accelerate our investments in the cloud."
Heat's software portfolio includes unified endpoint management and cloud based service management technologies. The combined company is set to have over 1,600 employees and will help to manage of 40 million endpoints around the world.
Sean Michael Kerner is a senior editor at Enterprise Networking Planet and InternetNews.com. Follow him on Twitter @TechJournalist