Jamf announces intent to acquire Wandera, furthering its leadership in Apple Enterprise Management
MINNEAPOLIS, May 11, 2021 (GLOBE NEWSWIRE) -- Jamf (NASDAQ: JAMF), the standard in Apple Enterprise Management, today announced it signed a definitive agreement to acquire Wandera, a leader in zero trust cloud security and access for mobile devices.
As an Apple-first provider of unified cloud security, Wandera expands Jamf’s security offering for the enterprise. Building on Jamf’s existing capabilities, Wandera adds Zero Trust Network Access (ZTNA), mobile threat defense and data policy features to ensure mobile workers can simply and safely access the network resources they need while complying with organizational policies and reducing mobile charges. This acquisition uniquely positions Jamf to help IT and security teams confidently protect the devices, data and applications used by a mobile workforce, while extending the intended Apple experience through the most robust and scalable Apple Enterprise Management platform in the market.
“In order to lead Apple Enterprise Management and best serve the growing number of organizations using Apple at work, Jamf needs to fill the gap between what users want and what the enterprise requires,” said Dean Hager, CEO, Jamf. “The combination of Wandera and Jamf will provide our customers a single source platform that handles deployment, Application Lifecycle Management, policies, filtering, and security capabilities across all Apple devices while delivering Zero Trust Network Access for all mobile workers.”
The consumerization of IT and strong demand for Apple continues to proliferate Apple devices in the enterprise. According to IDC's 2020 U.S. enterprise survey, the average penetration of macOS devices is around 23%, compared with 17% in 2019. Additionally, iPhone devices account for 49% of the smartphone installed base among enterprises, while iPad devices make up the majority of tablets used in business. As a result of this growth, Apple devices are now a bigger target for security threats. Additionally, according to Gartner’s Market Guide for ZNTA, “recent movements to largely remote workforces have accelerated the adoption of ZTNA to address hardware and bandwidth limitations of traditional Virtual Private Network (VPN) access.” In the report, Gartner predicts that by 2023, 60% of enterprises will phase out their VPNs in favor of a ZTNA solution.
“Jamf and Wandera are able to take advantage of the immense market opportunity to shape the future of the zero trust cloud. We are thrilled to be joining forces with the leader in Apple Enterprise Management,” said Eldar Tuvey, CEO and co-founder, Wandera. “We founded Wandera to make security simple in a zero trust world. By combining with Jamf, we can offer our customers a truly integrated access and security platform, with exceptional ease of use, speed, scalability and reliability. Together, we accelerate our customers’ ability to seamlessly and securely keep their employees connected, no matter where they are.”
Under the terms of the definitive agreement, Jamf will acquire Wandera for total consideration of $400 million, subject to customary adjustments as set forth in the merger agreement. The total consideration consists of an initial payment of $350 million at close and deferred consideration of $50 million to be paid in $25 million increments on October 1, 2021 and December 15, 2021. The transaction is expected to close during the third quarter of fiscal year 2021, subject to the satisfaction of customary closing conditions, including required U.S. regulatory approvals. Until close, the companies will continue to operate independently.
Jamf currently intends to finance the acquisition with a combination of cash on hand and debt financing.
For more information on the acquisition, please see the accompanying pdf.
Jamf will be discussing the acquisition along with its financial results for the first quarter of fiscal year 2021 on its previously scheduled earnings conference call and webcast scheduled for 3:30 p.m. Central Time (4:30 p.m. Eastern Time) on May 11, 2021.
Additional information concerning these and other factors can be found in the company's filings with the Securities and Exchange Commission. Given these factors, as well as other variables that may affect Jamf’s operating results, you should not rely on forward-looking statements, assume that past financial performance will be a reliable indicator of future performance, or use historical trends to anticipate results or trends in future periods. The forward-looking statements included in this press release and on the related teleconference call relate only to events as of the date hereof. Jamf undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.