MobileIron ($MOBL) Buyout Rumors Were True
Mobile management and security software provider MobileIron is in advanced talks to be acquired, according to two financial media reports.
Updated September 28, 2020: Ivanti is acquiring MobileIron and Pulse Secure to further bolster its unified endpoint management (UEM) and mobile endpoint security, MSSP Alert reports.
Original September 25, 2020, report: MobileIron ($MOBL) stock rose 17 percent amid the M&A rumors, which were published by DealReporter on September 25. A similar report surfaced on August 20 from Bloomberg. The company’s market capitalization has risen to $647.5 million amid the rumors, SeekingAlpha notes.
The M&A reports did not indicate if potential MobileIron buyers are strategic technology companies, private equity firms or other types of investors.
MobileIron Financial Performance, Security Focus
MobileIron revenue was $58.9 million in Q2 2020, up 16 percent compared to Q2 2019. The financial results, announced in July 2020, generally beat Wall Street’s expectations.
MobileIron specializes in Unified Endpoint Management (UEM), Zero Sign-On Authentication, and MobileIron Threat Defense (MTD) software to protect Google Android, Apple iOS and macOS, and Microsoft Windows 10 platforms.
MobileIron’s partner ecosystem spans technology, channel and service provider partners.
MobileIron has not commented about the M&A rumors.