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.
The Latest
In 2024 the number one challenge facing IT teams is a lack of skilled workers, and many are turning to automation as an answer, according to IT Trends: 2024 Industry Report ...
Organizations are continuing to embrace multicloud environments and cloud-native architectures to enable rapid transformation and deliver secure innovation. However, despite the speed, scale, and agility enabled by these modern cloud ecosystems, organizations are struggling to manage the explosion of data they create, according to The state of observability 2024: Overcoming complexity through AI-driven analytics and automation strategies, a report from Dynatrace ...
Organizations recognize the value of observability, but only 10% of them are actually practicing full observability of their applications and infrastructure. This is among the key findings from the recently completed Logz.io 2024 Observability Pulse Survey and Report ...
Businesses must adopt a comprehensive Internet Performance Monitoring (IPM) strategy, says Enterprise Management Associates (EMA), a leading IT analyst research firm. This strategy is crucial to bridge the significant observability gap within today's complex IT infrastructures. The recommendation is particularly timely, given that 99% of enterprises are expanding their use of the Internet as a primary connectivity conduit while facing challenges due to the inefficiency of multiple, disjointed monitoring tools, according to Modern Enterprises Must Boost Observability with Internet Performance Monitoring, a new report from EMA and Catchpoint ...
Choosing the right approach is critical with cloud monitoring in hybrid environments. Otherwise, you may drive up costs with features you don’t need and risk diminishing the visibility of your on-premises IT ...
Consumers ranked the marketing strategies and missteps that most significantly impact brand trust, which 73% say is their biggest motivator to share first-party data, according to The Rules of the Marketing Game, a 2023 report from Pantheon ...
Digital experience monitoring is the practice of monitoring and analyzing the complete digital user journey of your applications, websites, APIs, and other digital services. It involves tracking the performance of your web application from the perspective of the end user, providing detailed insights on user experience, app performance, and customer satisfaction ...
Enterprises are experiencing a 13% year-over-year increase in customer-facing incidents, reflecting rising levels of complexity and risk as businesses drive operational transformation at scale, according to the 2024 State of Digital Operations study from PagerDuty ...
According to Grafana Labs' 2024 Observability Survey, it doesn't matter what industry a company is in or the number of employees they have, the truth is: the more mature their observability practices are, the more time and money they save. From AI to OpenTelemetry — here are four key takeaways from this year's report ...