Ivanti has snapped up both MobileIron and Pulse Secure in an acquisition spree designed to improve the firm's zero-trust, cloud, and managed IT security portfolio.
Announced on Tuesday, the Utah-based security company said the combination of both MobileIron and Pulse Secure will bolster Ivanti's position in "unified endpoint management, zero-trust security, and IT service management (ITSM)."
Under the terms of the deals, Ivanti has purchased outstanding MobileIron stock for roughly $872 million. This figure represents a 27% premium on the firm's share price as of September 24, 2020, and each stockholder received $7.05 in cash per share held.
Since 2007, Mountain View, Calif.-based MobileIron has focused on becoming a zero-trust specialist in the mobile device security space. The firm's solutions include device validation, user context and app authorization checks, network verification, and threat scanning.
Pulse Secure was acquired from affiliates of Siris Capital Group but the financial terms of the purchase were not disclosed.
Founded in 2014, San Jose, Calif.-based Pulse Secure is another zero-trust organization that has created a framework for verifying mobile devices attempting to connect to a corporate network, data center, or the cloud.
Ivanti says that the combined resources of MobileIron and Pulse Secure will give enterprise clients more robust solutions for protection, self-healing, and self-securing devices connected to corporate networks. In particular, Ivanti is exploring how zero-trust security practices and contextual automation can improve remote infrastructure -- adopted by more companies than ever due to the disruption caused by COVID-19.
"We are excited to welcome the MobileIron and Pulse Secure teams into the Ivanti family," commented Ivanti CEO and chairman Jim Schaper. "Our intelligent experience platform will power business through hyper-automation and secure connections on every device, for any user, wherever and however they work. This enables our customers to collaborate and innovate more freely while reducing the risk of data breaches and enhancing employee experiences."
In other acquisition news this week, Salesforce announced the purchase of Slack for $27.7 billion, the cloud provider's largest acquisition purchase to date.
Tools including Slack are also being used by enterprise players forced into remote work setups due to the pandemic, and according to Salesforce, the deal will see Slack integrated into Salesforce Customer 360. The Slack remote collaboration platform is a competing force against Microsoft Teams.
Previous and related coverage
- Accenture acquires cybersecurity startup Revolutionary Security
- Palo Alto Networks acquires attack surface manager Expanse in $800m deal
- CrowdStrike to acquire Preempt Security for $96 million
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