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Sept. 28, 2020, 6:26 a.m. EDT

MobileIron to be acquired by Ivanti in all-cash deal valued at about $872 million

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By Ciara Linnane


MobileIron, a mobile security platform serving the work-from-home market, said Monday it has agreed to be acquired by Ivanti Inc. in an all-cash deal valued at about $872 million. Under the terms of the deal, MobileIron shareholders will receive $7.05 in cash per share, equal to a 27% premium over the closing price on Friday. The deal is expected to close late in the fourth quarter. "By bringing MobileIron and Pulse Secure into the Ivanti portfolio, organizations will be able to manage and secure users, devices, data, and access to ensure that every device in an organization is covered, while delivering a contextual personalized employee experience," the companies said in a statement. MobileIron shares jumped 6% premarket on the news and are up 37% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.86% has gained 2.1%.

-64.42 -1.86%
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Oct. 26, 2020 5:17p

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