Jamf Holding, which provides software for managing workflows across Apple devices, announced terms for its IPO on Tuesday.
The Minneapolis, MN-based company plans to raise $288 million by offering 16 million shares (16% insider) at a price range of $17 to $19. New investors Dragoneer Investment Group and Tiger Global Management intend to purchase an aggregate $100 million worth of shares in the offering. At the midpoint of the proposed range, Jamf Holding would command a fully diluted market value of $2.2 billion.
Jamf provides a cloud software platform that it believes is the only vertically-focused Apple infrastructure and security platform of scale in the world. The company sells its SaaS solutions through a subscription model, and as of March 31, 2020, the company had approximately 38,500 customers deploying 16 million Apple devices in over 100 countries and territories. As of June 29, 2020, the company had more than 40,000 customers.
Jamf Holding was founded in 2002 and booked $220 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol JAMF. Goldman Sachs, J.P. Morgan, BofA Securities, Barclays, RBC Capital Markets, Mizuho Securities and HSBC are the joint bookrunners on the deal. It is expected to price during the week of July 20, 2020.
