Well, I was more than a fly on the wall . . .
If you didn’t read yesterday, LANDesk is getting purchased for $416 million by Avocent. Read about it at Utah Tech Watch, and MidMarketMaven (Devin Thorpe).
Dennis Wood and vSpring asked Politis Communications to write the press release that came from vSpring since LANDesk is a vSpring portfolio company, and I just wanted to take a blog post minute to say congratulations to LANDesk and to vSpring and partners.
LANDesk was actually spun out of Intel here in Utah about three and a half years ago and became a private company when vSpring Partner Ed Ekstrom saw the opportunity.
“The acquisition 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 also be increased by up to $60 million if LANDesk meets certain financial targets specified in the agreement.”
vSpring Capital Applauds $416 Million Sale of Portfolio Company LANDesk to Avocent
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[...] “Each year, vSpring asks members of the Utah business community to nominate individuals with ties to the state of Utah who are most likely to lead a successful startup venture in the next five to seven years in the IT (information technology) or biotech industries in a chief executive or chief technical officer role.” [...]
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