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Ivanti Announces Strategic Acquisitions of MobileIron and Pulse Secure
By acquiring MobileIron and Pulse Secure, Ivanti will be providing on its vision to allow the self-healing autonomous edge with adaptive security and contextualized, personalized experiences for remote workers.
FREMONT, CA: Ivanti, ("Ivanti") that automates IT and Security Operations to discover, manage, secure, and service from cloud to edge, and is supported by affiliates of Clearlake Capital Group (together with its affiliates, "Clearlake") and TA Associates, announced that it has signed agreements to acquire MobileIron ("MobileIron"), a leading provider of mobile-centric unified endpoint management solutions, and Pulse Secure ("Pulse Secure"), a leading provider of secure access and mobile security solutions.
Under the terms of the agreement with MobileIron, Ivanti will acquire all outstanding shares of MobileIron common stock for a total value of approximately $872 million. MobileIron stockholders will get $7.05 in cash per share, representing a 27 percent premium to the unaffected closing stock price as of September 24, 2020. MobileIron's Board of Directors collectively approved the deal and suggested that stockholders vote their shares in favor of the transaction.
Pulse Secure will be acquired from affiliates of Siris Capital Group (together, "Siris"). The terms of the Pulse Secure transaction were not revealed.
By acquiring MobileIron and Pulse Secure, Ivanti will be providing on its vision to allow the self-healing autonomous edge with adaptive security and contextualized, personalized experiences for remote workers. The combination of Ivanti, MobileIron, and Pulse Secure will enhance Ivanti's leadership in unified endpoint management, zero-trust security, and enterprise service management, which are significant in today's remote work environment. With today's announced transactions, Ivanti will allow customers to discover, manage, secure service, and automate across all device types with the Ivanti Neurons hyper-automation platform. Customers will also benefit from the expanded scale, corporate resources, service skills, and financial flexibility that Ivanti will deliver. Upon completing the transactions, the company will continue to be led by the Ivanti chairman and CEO Jim Schaper.
"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 address the growing market demand for the future of work, where working from anywhere on any device type is the new normal," said Mr. Schaper. "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."