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

July 21, 2017

Public sector organizations undergoing digital transformation are losing confidence in IT Operations' ability to manage the influx of new technologies and evolving expectations, according to the 2017 Splunk Public Sector IT Operations Survey ...

July 20, 2017

It's no surprise that web application quality is incredibly important for businesses; 99 percent of those surveyed by Sencha are in agreement. But despite technological advances in testing, including automation, problems with web application quality remain an issue for most businesses ...

July 19, 2017

Market hype and growing interest in artificial intelligence (AI) are pushing established software vendors to introduce AI into their product strategy, creating considerable confusion in the process, according to Gartner. Analysts predict that by 2020, AI technologies will be virtually pervasive in almost every new software product and service ...

July 18, 2017

Organizations are encountering user, revenue or customer-impacting digital performance problems once every five days, according a new study by Dynatrace. Furthermore, the study reveals that individuals are losing a quarter of their working lives battling to address these problems ...

July 17, 2017
Mobile devices account for more than 60 percent of all digital minutes in all 9 markets profiled in comScore's report: Mobile’s Hierarchy of Needs ...
July 14, 2017

Cloud adoption is still the most vexing factor in increased network complexity, ahead of the internet of things (IoT), software-defined networking (SDN), and network functions virtualization (NFV), according to a new survey conducted by Kentik ...

July 13, 2017

Gigabit speeds and new technologies are driving new capabilities and even more opportunities to innovate and differentiate. Faster compute, new applications and more storage are all working together to enable greater efficiency and greater power. Yet with opportunity comes complexity ...

July 12, 2017

Achieving broad competence in event-driven IT will be a top three priority for the majority of global enterprise CIOs by 2020, according to Gartner, Inc. Defining an event-centric digital business strategy will be key to delivering on the growth agenda that many CEOs see as their highest business priority ...

July 11, 2017

It's not especially surprising that a new IT survey shows that cloud use for business and government poses challenges. In significant numbers across the board, respondents cited cloud complexity, compliance and security, cost control, speed of delivery, and domain expertise as the cloud problems their organizations were working to overcome this year ...

July 10, 2017
Your organization's Application Management and IT Help Desk teams are your "first line of defense," and they also wear many hats. One of the biggest challenges they face is the management of application portfolios. To help ensure your application and help desk operations are effective and manageable, there are a few simple things that IT leaders can do ...