US private equity fund Thoma Bravo has made a bid to manage the coming internet of things, 50 billion devices by 2020, with the takeover of IT security software maker LANDesk.
Terms of the deal expected to complete next month were not disclosed.
LANDesk's executive team including chief executive officer Steve Daly will continue in their roles.
LANDesk Australia's country manager Alan Abraham said the company will retain its name and branding.
He said the deal would increase its channel investment to grow its "specialised" partner base and training.
"This is goodness for all," Abraham said.
LANDesk made software to help organisations manage their IT services, security and systems. In 2006 data centre equipment maker Avocent bought it for $US416 million and last year that company was bought by IT manufacturer Emerson Electronics.
"There are about 500 million PCs or laptops in the corporate environment today, with 5 billion [internet protocol]-connected devices," Daly said.
"Estimates indicate there will be 50 billion IP-connected devices in the world by 2020.
"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."
Thoma Bravo bought authentication maker Entrust last year for $US114.
LANDesk, based in the US state of Utah, employed seven in Australia of 750 around the world.