Software management company LANdesk has been sold by Emerson to private equity company Thoma Bravo, following Emerson's purchase of Avocent, LANdesk's previous owner.
According to Andy Baldin, LANdesk's European VP for sales, when Emerson decided to acquire Avocent for its data centre management capabilities and LANdesk's desktop management features didn't fit in with Emerson's plans. It was decided to sell LANdesk off as a complete standalone company, said Baldin, and Thoma Bravo stepped in.
Baldin stressed that the move wasn't about Thoma Bravo being an asset stripper and that the company was committed to investment in LANdesk.
"It's going to be a positive for the company, he said. "We're now an agile customer focused business," he added, claiming that LANdesk had a customer retention rate of 90 percent. Baldin pointed out that one of the key attractions for Thoma Bravo was that the management team was intact and had a clear vision for the company.
"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."
According to Baldin, Thoma Bravo has a good track record in developing its portfolio companies. "Take Flexera for example, they doubled their earnings after acquisition. " He added that the Thoma Bravo investment should help the company develop its future planned products, including management for mobile computing and multiple operating systems.