Ivanti Announces Strategic Acquisitions of MobileIron and Pulse Secure
In just 24 hours, tech bloggers and news sites everywhere have been sharing Ivanti's latest acquisition announcement. The news has been picked up by several publications including Redmond Magazine, MarketWatch, TechTarget, WSJ Pro Cybersecurity, and Channel Futures. And while we're delighted to be picked up by so many publications (seriously, we feel like the popular kid at school!), we're glad you've found yourself here on the Ivanti blog!
So here is everything you need to know about Ivanti's latest acquisitions.
Ivanti's Strategic Acquisitions of MobileIron and Pulse Secure
Ivanti, backed by Clearlake Capital and TA Associates, has signed definitive agreements to acquire MobileIron, a leading provider of mobile-centric unified endpoint management solutions, and Pulse Secure, a leading provider of secure access and mobile security solutions. By acquiring these two companies, Ivanti will cement its leadership in unified endpoint management, zero trust security, and enterprise service management, which are critical in today’s remote work environment.
"By combining MobileIron and Pulse Secure with Ivanti... 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."
— Ivanti CEO Jim Schaper
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 receive $7.05 in cash per share, representing a 27% premium to the unaffected closing stock price as of September 24, 2020. MobileIron’s Board of Directors unanimously approved the deal and recommended that stockholders vote their shares in favor of the transaction.
"Bringing our solutions together will enable organizations to easily secure users, devices, data and access in the Everywhere Enterprise. We’re confident that this transaction will deliver comprehensive security for the next generation workforce, provide enhanced opportunities for our team of employees, and better serve our customer base. Additionally, we believe this combination represents the best path forward for our stockholders and MobileIron."
— MobileIron CEO Simon Biddiscombe
Pulse Secure will be acquired from affiliates of Siris Capital Group, LLC (together, “Siris”). The terms of the Pulse Secure transaction were not disclosed.
"As it relates to the future of work, Ivanti shares our belief that ‘Remote is the New Normal’ and our commitment to building Secure Access solutions that offer simple and unified user experiences. We are excited to join the Ivanti family alongside MobileIron and look forward to utilizing the resources that Clearlake and TA Associates provide to further establish our position as a Secure Access leader for Hybrid IT environments in a world of Zero Trust."
— Pulse Secure CEO Sudhakar Ramakrishna
In August, Ivanti announced a new strategic investment from TA Associates. The investment from TA Associates, along with new capital from Clearlake, will be used to accelerate Ivanti’s growth. Clearlake and TA partnered to fund the strategic acquisitions.
"The transformational combination of Ivanti, MobileIron, and Pulse Secure brings together three complementary, market leading businesses to bolster Ivanti’s position as a security software market leader. The combined business will have the scale, breadth of capabilities, and resources to extend its leadership position and to offer a complete product portfolio addressing the critical IT needs of its clients."
— Clearlake Founder and Managing Partner Behdad Eghbali, and Clearlake Partner Prashant Mehrotra