Intel has announced its Software Products and Services division – which make LANDesk software – will be spun off into a separate company.
Under the deal, the new LANDesk Acquisition Corporation will purchase certain assets from the business unit, including the LANDesk branded products.
These include the LANDesk management suite, LANDesk client manager, LANDesk server manager, LANDesk asset service, Instant Support Suite, Mobile Manager and Remote Services, as well as other intellectual property.
Intel will retain a minority equity position in the company through Intel Capital, with the majority of the business financed by new owners Vector Capital and vSpring Capital, according to LANDesk ceo Joe Wang.
“As an independent company, the LANDesk business is positioned to become the leader in desktop and device management for medium and large companies,” Wang said.
“Our commitment to the LANDesk products, customers and channel partners remains a top priority.”
“We plan to make the transition seamless for our customers and partners as we support and grow the LANDesk product line with increased and dedicated resources,” Wang said.
Intel has committed transition services to the business unit for a period of time – including production and order fulfilment – to ensure the transition is smooth for all LANDesk customers.
The transaction is expected to close at the end of September.
“The LANDesk business is an ideal candidate for corporate independence,” Vector Capital managing partner Alex Slusky added.