Clearlake Capital to Acquire LANDESK
January 11, 2017
Share this

Clearlake Capital Group has signed a definitive agreement to acquire LANDESK from Thoma Bravo.

Financial terms of the transaction were not disclosed. As part of the transaction, Clearlake will contribute its portfolio company HEAT Software to the new platform investment in LANDESK.

LANDESK is further strengthened by HEAT’s Cloud-based Service Management (CSM) and Unified Endpoint Management (UEM) software solutions. HEAT delivers flexible, scalable, and secure CSM, UEM, and endpoint security solutions, along with a robust, global, and rapidly growing SaaS platform that is complementary to LANDESK’s product portfolio. The combination will provide additional geographic reach and vertical depth, and will enable the company to better serve IT organizations with solutions to manage and secure end user environments.

The combined company will be led by LANDESK CEO Steve Daly and will be headquartered in Salt Lake City, UT. John Ferron, a Clearlake Operating Advisor and the current CEO of HEAT, will serve as Executive Chairman of the company’s Board of Directors. The combined company will operate under a new corporate name, which will be announced at a later date.

“This is an exciting day for LANDESK. 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,” said Steve Daly, CEO of LANDESK. “We are grateful for the partnership with Thoma Bravo over the years and are excited about this new chapter of growth for our business, particularly the addition of HEAT to our platform. 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.”

“We are pleased to welcome LANDESK to the Clearlake portfolio as a new platform investment. We’ve been impressed with LANDESK’s vision, and its ability to build shareholder value through consistent organic and inorganic growth initiatives,” said Behdad Eghbali, a Co-Founder and Managing Partner at Clearlake. “Together, LANDESK and HEAT are well-positioned to deliver market-leading solutions that continue to expand their security and cloud offerings and accelerate growth.”

“At HEAT, we are dedicated to providing customers with cloud solutions that make their businesses more efficient, compliant, and secure,” added John Ferron. “This is a marriage of two organizations with a shared vision. Together, we will offer our customers a one-stop shop for IT solutions that solve everyday business challenges.”

“There is a critical need for enterprise IT to better understand what is happening in the user environment, while securing critical assets and data, and to have the operations management tools to take action when needed. We believe this transformational combination with HEAT will further enhance LANDESK’s scale, breadth of capabilities, and resources to deliver comprehensive solutions to address these complex IT security challenges and risks,” added Prashant Mehrotra and James Pade of Clearlake. “We are excited to partner with the team to continue to build on LANDESK’s 30-year track record of delivering world-class products and robust solutions that grow with the needs of its customers.”

The transaction is expected to close in January 2017. The combined organization will have over 1,600 employees in 23 countries serving over 25,000 customers and managing and securing more than 40 million endpoints.

Morgan Stanley, Evercore, Barclays, and Jefferies served as financial advisors to HEAT and Clearlake. Morgan Stanley, Barclays, Jefferies, Macquarie, Golub Capital, and Nomura have provided fully committed financing for this transaction. UBS Investment Bank served as financial advisor to LANDESK.

Share this

The Latest

February 24, 2017

Global revenue in the BI and analytics software market is forecast to reach $18.3 billion in 2017, an increase of 7.3 percent from 2016, according to the latest Gartner forecast. Gartner believes the rapidly evolving modern BI and analytics market is being influenced by the following 7 dynamics ...

February 23, 2017

An important aspect of performance monitoring is where the observer stands when looking at the IT scenario. Each participant has a different view of what is bad performance - network, database, web, system, user personnel, management and external people - customers, regulatory bodies etc. These are what I call viewpoints ...

February 22, 2017

An important aspect of performance monitoring is where the observer stands when looking at the IT scenario. If a complaint says the performance of an application is dreadful, the network man might say "Everything is fine" and the database man may agree, both saying "What's the problem?" All these people may say that the performance world is rosy but not to other people who have a different idea on what is rosy and what is not ...

February 21, 2017

Instapaper, a "read later" tool for saving web pages to read on other devices or offline, suffered an extensive outage 2 weeks ago. While Instapaper hit a unique problem — a file size limitation — its experience speaks to a much larger problem: scaling a database is difficult, and never quick. That basic fact explains why outages like this are surprisingly common ...

February 16, 2017

Hybrid Cloud is the preferred enterprise strategy, according to RightScale's 2017 State of the Cloud Report ...

February 15, 2017

IT departments often try to protect against downtime by focusing on the web application. Monitoring web application's performance helps identify malfunctions and their cause on a code level, so that the DevOps team can solve the problem. But, monitoring application performance only protects against application errors and ignores external factors such as network traffic, hardware, connectivity issues or bandwidth usage, all of which can have an impact performance and availability of a website ...

February 14, 2017

Everybody loves DevOps. In fact, DevOps is the hottest date in IT. That's because DevOps promises to satisfy the deepest longings of digital business — including fast execution on innovative ideas, competitively differentiated customer experiences, and significantly improved operational efficiencies ...

February 13, 2017

Forrester forecasted that direct online sales totaled 11.6 percent of total US retail sales in 2016, but digital touchpoints actually impacted an estimated 49 percent of total US retail sales, according to The State of Retailing Online 2017: Key Metrics, Business Objectives and Mobile report, released by the National Retail Federation’s Shop.org division and Forrester ...

February 10, 2017

Cisco's acquisition of AppDynamics – and the premium it paid – represents a "statement acquisition" that addresses several converging trends in both technology and financial markets. For strategic acquirers and tech investors, the acquisition is about delivering value to users and improving business outcomes through a go-to-market model that drives recurring revenues ...

February 08, 2017

Industrial and technological revolutions happen because new manufacturing systems or technologies make life easier, less expensive, more convenient, or more efficient. It's been that way in every epoch – but Continuity Software's new study indicates that in the cloud era, there's still work to be done ...