Jamf Holding Corp. has entered into an agreement to buy Wandera, a San Francisco- and London-based cloud security company, for $400 million, the organizations announced Tuesday.
The deal is expected to close in the early third quarter. Minneapolis-based Jamf (Nasdaq:JAMF) will use $160 million of its own cash and a $250 million loan from JPMorgan Chase Bank and other parties to finance the deal, it said. Wandera will receive $350 million when the deal closes, and then two $25 million payments in October and December. It is Jamf's biggest acquisition yet.
Wandera has 240 employees in London, San Francisco and Brno, Czech Republic. It creates security and access software for mobile devices and its annual recurring revenue is about $25 million. It has raised $53.5 million from investors like Bessemer Venture Partners, 83North and Sapphire Ventures.
"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," Jamf CEO Dean Hager said in a statement. The acquisition will help Jamf expand its coverage of mobile Apple devices.
Jamf creates enterprise management software for Apple devices. Eighty percent of the devices Wandera manages are Apple, which makes it a good fit.
"We are thrilled to be joining forces with the leader in Apple enterprise management. 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," Wandera co-founder and CEO Eldar Tuvey said in a statement.
Jamf had total revenue of $269 million with a net loss of $22.8 million in 2020. It went public on the Nasdaq stock exchange in July 2020, raising $468 million.
Jamf has previously acquired other tech companies like Dutch education-tech company ZuluDesk; Austin, Texas-based Mac manager Orchard & Grove; and Mac security company Digita Security. Terms of those deals weren't disclosed.