Vista Equity-backed Jamf is exploring a potential sale as pressure from its struggling share price attracts takeover interest, according to a report by Reuters citing unnamed people familiar with the matter.
The Minneapolis-based device management software provider, which enables IT teams to manage Apple devices such as MacBooks, iPads and iPhones at scale, has hired Citigroup to advise on strategic options. Jamf has reportedly been fielding approaches from potential buyers in recent months.
Vista, which owns around 34% of the company, is expected to fully exit its stake as part of any deal. The firm first invested in Jamf in 2017 and has already generated roughly $1.3bn in proceeds from partial exits via the IPO and subsequent share sales.
Despite a recent rebound in its share price, Jamf’s stock remains more than 40% lower year-on-year and is down almost 60% since its 2020 IPO. The company continues to struggle with profitability, reporting a second-quarter loss of $20.9m compared with $19.3m a year earlier.
Revenues, however, rose 15% year-on-year to $175.5m, and the company has lifted its full-year guidance after beating analyst expectations for the quarter.
Neither Jamf, Vista nor Citigroup commented on the process.
