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. Parties in the United States and Canada
can access the call by dialing +1 (833) 519-1319, and international
parties can access the call by dialing +1 (914) 800-3885. The
webcast will be accessible on Jamf’s investor relations website at
https://ir.jamf.com. About JamfJamf, the
standard in Apple Enterprise Management, extends the legendary
Apple experience people love to businesses, schools, and government
organizations through its software and the world’s largest online
community of IT admins focused exclusively on Apple, Jamf Nation.
To learn more, visit: www.jamf.com.
Forward-Looking StatementsThis
press release contains “forward-looking statements” within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995, including but not limited to,
statements regarding our financial outlook and market positioning.
Forward-looking statements give our current expectations and
projections relating to our financial condition, results of
operations, plans, objectives, future performance, and business.
You can identify forward-looking statements by the fact that they
do not relate strictly to historical or current facts. These
statements may include words such as “anticipate,” “estimate,”
“expect,” “project,” “plan,” “intend,” “believe,” “may,” “will,”
“should,” “can have,” “likely” and other words and terms of similar
meaning in connection with any discussion of the timing or nature
of future operating or financial performance or other events,
statements about the potential benefits of the acquisition, product
developments and other possible or assumed business strategies,
potential growth opportunities, the potential customers that the
combined companies can serve, potential new products, the potential
value creation as a result of combined offerings and potential
market opportunities. All forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially from those that we expected, including: the ability of
Jamf and Wandera to close the announced transaction; the ability of
Jamf to realize the potential benefits of the acquisition of
Wandera; the possibility that the closing of the transaction may be
delayed; other risks related to Jam’s integration of Wandera’s
business, team, and technology; the impact on our operations and
financial condition from the effects of the current COVID-19
pandemic; the potential impact of customer dissatisfaction with
Apple or other negative events affecting Apple services and
devices, and failure of enterprises to adopt Apple products; the
potentially adverse impact of changes in features and functionality
by Apple on our engineering focus or product development efforts;
changes in our continued relationship with Apple; the fact that we
are not party to any exclusive agreements or arrangements with
Apple; our reliance, in part, on channel partners for the sale and
distribution of our products; the impact of reputational harm if
users perceive our products as the cause of device failure; our
ability to successfully develop new products or materially enhance
current products through our research and development efforts; our
ability to continue to attract new customers; our ability to retain
our current customers; our ability to sell additional functionality
to our current customers; our ability to meet service-level
commitments under our subscription agreements; our ability to
correctly estimate market opportunity and forecast market growth;
risks associated with failing to continue our recent growth rates;
our dependence on one of our products for a substantial portion of
our revenue; our ability to scale our business and manage our
expenses; our ability to change our pricing models, if necessary to
compete successfully; the impact of delays or outages of our cloud
services from any disruptions, capacity limitations or
interferences of third-party data centers that host our cloud
services, including Amazon Web Services; our ability to maintain,
enhance and protect our brand; our ability to maintain our
corporate culture; the ability of Jamf Nation to thrive and grow as
we expand our business; the potential impact of inaccurate,
incomplete or misleading content that is posted on Jamf Nation; our
ability to offer high-quality support; risks and uncertainties
associated with potential acquisitions and divestitures, including,
but not limited to, disruptions to ongoing operations; diversions
of management from day-to-day responsibilities; adverse impacts on
our financial condition; failure of an acquired business to further
our strategy; uncertainty of synergies; personnel issues; resulting
lawsuits and issues unidentified in diligence processes; our
ability to predict and respond to rapidly evolving technological
trends and our customers' changing needs; our ability to compete
with existing and new companies; the impact of adverse general and
industry-specific economic and market conditions; the impact of
reductions in IT spending; our ability to attract and retain highly
qualified personnel; risks associated with competitive challenges
faced by our customers; the impact of our often long and
unpredictable sales cycle; our ability to develop and expand our
marketing and sales capabilities; the risks associated with sales
to new and existing enterprise customers; the risks associated with
free trials and other inbound, lead-generation sales strategies;
the risks associated with indemnity provisions in our contracts;
our management team’s limited experience managing a public company;
the impact of any catastrophic events; the impact of global
economic conditions; risks associated with cyber-security events;
the impact of real or perceived errors, failures or bugs in our
products; the impact of interruptions or performance problems
associated with our technology or infrastructure; the impact of
general disruptions to data transmission; risks associated with
stringent and changing privacy laws, regulations and standards, and
information security policies and contractual obligations related
to data privacy and security; the risks associated with
intellectual property infringement claims; our reliance on
third-party software and intellectual property licenses; our
ability to protect our intellectual property and proprietary
rights; and the risks associated with our use of open source
software in our products.
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.
Media Contact:Jordyn DiOrio |
media@jamf.comInvestor Contact:Jennifer Gaumond |
ir@jamf.com
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