LANDesk Software, the venerable desktop management software developer, said it had acquired private Wavelink to extend its reach into mobile platforms like smartphones and tablets.
Terms weren't disclosed but CEO Steve Daly said his Salt Lake City company had paid more than $10 million. Wavelink is nearby in South Jordan, Utah.
Wavelink had been privately held. Much of its funding had come from WestView Capital Partners. CEO David Bullis had been seeking an exit, Daly said.
The acquisition is LANDesk's second since it became a standalone business in 2010 as a part of private equity firm Thoma Bravo of Chicago. It's the sixth since it was spun out of Intel Corp. (Nasdaq: INTC), the No. 1 chipmaker, in 2002.
In April, LANDesk acquired private Managed Planet, of Dallas, to move into Big Data, merging its products with LANDesk's data analytics software.
Daly said Wavelink's software allows for management of all manner of mobile devices which adds to the company's enterprise offerings. Customers include Chevron (NYSE: CVX), Walt Disney Co. (NYSE: DIS) and Xerox Corp. (NYSE: XRX). About 100 Wavelink employees will join the LANDesk payroll.
We had been looking for a while for an acquisition in the sector, Daly said. An investment banker for Wavelink from Shea & Co. in Boston brought the partners together last month. The transaction closed Tuesday.
In 2011, LANDesk was profitable on revenue exceeding $150 million. Daly declined to provide revenue for the first half of 2012 but said business had been strong.
We see no evidence of a technology slowdown, he said.