System management vendor LANDesk Software has been acquired by private equity firm Thoma Bravo. Financial terms of the deal were not disclosed.
Salt Lake City, Utah-based LANDesk sells endpoint security software, which includes vulnerability and configuration management capabilities. The company has about 750 employees. Steve Daly, executive vice president and general manager of LANDesk, will become the CEO of the company.
"With the assistance of Thoma Bravo, we will remain the leader in IT management and continue to focus on helping our customers manage and secure their systems, regardless of device type, platform or location," Daly said in a statement.
The acquisition is expected to close by the end of September.
Founded in 1985, the software maker was acquired by Intel Corp. in 1991, which sold it off in 2006 to Avocent Corp. LANDesk became part of Emerson Electric when Emerson acquired Avocent last year. Emerson announced in February that it intended to shed the LANDesk business.
The market for configuration and vulnerability management software has been consolidating in recent years as the functionality is being offered by infrastructure vendors.
Thoma Bravo said it would build out its security portfolio when it acquired security appliance vendor Entrust in 2009. Dallas-based Entrust sells messaging security appliances and software that provides authentication, digital signatures and data encryption technologies.
"LANDesk is uniquely positioned in the software industry, and Thoma Bravo is confident we can further accelerate the company's growth through our proven buy and build investment strategy," Robert Sayle, a vice president at Thoma Bravo said in a statement.