South Jordan-based Ivanti, a provider of IT management and security software, has acquired two software companies, including mobile-centric security platform MobileIron of Mountain View, California, and Pulse Secure LLC, an Internet access security company in San Jose, California.
Ivanti will acquire all outstanding shares of MobileIron common stock for a total value of approximately $872 million in cash. MobileIron stockholders will receive $7.05 in cash per share, representing a 27 percent premium to the stock’s closing price as of Sept. 24. The boards of both companies unanimously approved the transaction. Terms of the Pulse Secure purchase were not made public.
“By bringing MobileIron and Pulse Secure into the Ivanti portfolio, organizations will be able to manage and secure users, devices, data and access to ensure that every device in an organization is covered, while delivering a contextual personalized employee experience,” Ivanti said in a release. “The combined company will have the ability to enable and secure the Everywhere Enterprise. Additionally, customers will benefit from the expanded scale, corporate resources, service capabilities and financial flexibility that the transaction and combined hyper-automation platform will deliver.”
Upon completion of the transaction, the combined company will be led by 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 addresses the growing market demand for the future of work, where working from anywhere on any device type is the new normal,” said 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.”
“We are thrilled to join forces with Ivanti and Pulse Secure in a combination that will accelerate our ability to help organizations quickly and securely embrace the future of work, in which employees, IT infrastructures and customers are everywhere — and mobile devices provide access to everything,” said Simon Biddiscombe, CEO of MobileIron. “Bringing together our solutions will enable organizations to easily secure users, devices, data and access in the Everywhere Enterprise and we’re confident that this transaction will enable us to deliver comprehensive security for the next-generation workforce, provide enhanced opportunities for our team of employees, and better serve our customer base. We’re confident this combination represents the best path forward for our stockholders and MobileIron.”
“The Pulse Secure team is excited to join the Ivanti family in the next chapter of growth for the combined platform,” said Sudhakar Ramakrishna, CEO of Pulse Secure. “
Founded in 2017, Ivanti employs 1,700 in its operations worldwide. Pulse Secure and MobileIron bring an additional 1,550 employees to the combined operation.