and Software Expertise to Offer 'Always-On' Management Solutions
SALT LAKE CITY, April 27 -LANDesk Software, a leading provider of integrated systems, security and process management solutions, today signed a definitive agreement to be acquired by Avocent Corporation (Nasdaq: AVCT) of Huntsville, Alabama, a leading supplier of IT infrastructure for the centralized management of enterprise data centers, branch offices and small to medium sized businesses.
The agreement, which is expected to close within 60 to 75 days, provides for total consideration of $416 million, including $200 million in stock, $200 million in cash and $16 million in assumed options. The transaction value may be increased by up to $60 million if LANDesk meets certain financial targets specified in the agreement.
"This agreement will greatly increase LANDesk's ability to execute its business strategy, preserve organizational identity, and become part of a well-capitalized enterprise with excellent prospects for accelerated growth," said Joe Wang, president and chief executive officer of LANDesk. "Because our companies share a similar vision, our combined organization will be able to quickly deliver increased business value to customers seeking better IT management."
"LANDesk has outstanding technology, a strong product pipeline, a large and diverse customer base that complements Avocent's, and outstanding people in every discipline. LANDesk will broaden our reach into additional platforms and layer added value on top of our connectivity solutions. The combined value of our solutions will help organizations analyze, update, and automate the process of managing systems and devices," said John R. Cooper, chairman and chief executive officer of Avocent.
The acquisition agreement represents the next step in LANDesk's and Avocent's joint plan to reinvent IT management. It will create next- generation, 'always-on' management solutions that give information-technology managers unmatched control of all hardware and software assets throughout their organizations.
Once the deal is complete, it is expected that LANDesk will continue to operate from its existing physical facilities as an independent division of Avocent Corporation.
About Avocent Corporation
Avocent Corporation is the leading supplier of connectivity solutions for enterprise data centers, branch offices and small to medium sized businesses worldwide. Branded and OEM products include remote and local access solutions for switching, serial console, power, extension, intelligent platform management interface (IPMI), mobile, and video display management solutions. Additional information is available at http://www.avocent.com. Avocent was advised regarding the acquisition transaction by Morgan Stanley.
About LANDesk Software
LANDesk is a leading provider of systems, security and process management solutions for desktops, servers and mobile devices across the enterprise. LANDesk enables thousands of organizations to easily deploy and use end-to-end management solutions. LANDesk is headquartered in Salt Lake City, Utah, with offices located in the Americas, Europe and Asia, and can be found on the Web at http://www.landesk.com/, or by calling 1-800-982-2130. On the acquisition transaction, LANDesk was advised by UBS Investment Bank.
All rights reserved. LANDesk is either a registered trademark or trademark of LANDesk Software Ltd. or its affiliated companies in the United States and/or other countries. Other names or brands may be claimed as the property of others.
