Ivanti, which offers enterprise-grade IT management and security software solutions, agreed to acquire all outstanding shares of MobileIron (NASDAQ:MOBL) for $872 million in cash. MobileIron stockholders will receive $7.05 in cash per share, representing a 27% premium to the unaffected closing price as of September 24, 2020.
MobileIron’s mobile security platform combines unified endpoint management (UEM) capabilities with passwordless multi-factor authentication (Zero Sign-On) and mobile threat defense (MTD) to validate the device, establish user context, verify the network, and detect and remediate threats. This ensures that only authorized users, devices, apps, and services can access business resources in a “work from everywhere” world. The MobileIron platform is used by over 20,000 organizations.
Ivanti also announced it has entered into an agreement to acquire Pulse Secure LLC, a leading provider of Secure Access and mobile security solutions to enterprise customers.
Privately-held Ivanti, which is based in South Jordan, Utah, is backed by Clearlake Capital Group, L.P. and TA Associates Management L.P..
“By combining MobileIron and Pulse Secure with Ivanti, we are creating a leader in the large and growing Unified Endpoint Management, Security and Enterprise Service Management markets. We now have the most comprehensive set of software solutions that addresses the growing market demand for the future of work, where working from anywhere on any device type is the new normal,” said Jim Schaper, Ivanti Chairman and CEO. “With the integration of our industry knowledge and complementary product offerings, Ivanti will be well positioned to provide our expansive customer base with the critical tools needed to tackle IT challenges in the new normal. We welcome MobileIron’s and Pulse Secure’s employees, customers, and partner network to the Ivanti family, and thank Clearlake and TA Associates for their strong support in enabling these transformational transactions.”
