Transaction increases Dragoneer’s stake in Jamf
to 17%
Dragoneer Investment Group (“Dragoneer”), a leading
growth-oriented public and private investor, today announced it has
executed a privately placed secondary block trade with Vista Equity
Partners (“Vista”), a leading global investment firm focused
exclusively on enterprise software, data and technology-enabled
businesses and the principal shareholder of Jamf (NASDAQ: JAMF),
through which Dragoneer has acquired $300 million of Jamf common
stock from Vista at an average price of $33.50 per share. The
$33.50 price per share is reflective of Jamf’s 30-day volume
weighted stock price as of September 3, 2021, the day of
transaction signing. The trade follows a confidential review of
information regarding Jamf’s operations and performance by the
Dragoneer team and reflects Dragoneer’s confidence in Jamf’s
long-term outlook.
Jamf is the leading Apple Enterprise Management platform
globally with greater than 53,000 customers using Jamf to deploy
and secure over 23 million Apple devices as of June 30, 2021. The
company offers cloud-based solutions to remotely connect, manage,
and protect Apple users, devices, and services. Jamf’s platform is
designed to improve security and lower support cost while
delivering users a consumer-simple experience with
enterprise-deployed Apple Mac, iPad, iPhone, and Apple TVs.
“The presence of Apple’s products in the public and private
sectors is continuing to grow at a rapid rate, and as the clear
market leader in enterprise management software for Apple products,
Jamf is very well positioned to capitalize on this long-term
trend,” said Marc Stad, Founder and Managing Partner of Dragoneer
Investment Group. “We came away from our diligence process,
including a review of Jamf’s recent Wandera acquisition, more
impressed than ever with the company’s execution, team and
strategic vision. While consistently delivering excellent results
during changing market conditions, Jamf has greatly expanded its
product set and grown its partnerships with the world’s leading
organizations – and we are confident that they will continue to
take advantage of the significant market opportunity in front of
them.”
“We are glad to be partnering with the Vista team,” Stad said.
“We admire the work they have done in supporting Jamf’s growth and
innovation.”
The transaction will see Dragoneer’s ownership stake in Jamf
increase from 9.5% to 17%, marking the continued strengthening of
Dragoneer’s ongoing relationship with the company. The trade builds
upon Dragoneer’s anchoring of the Jamf IPO in July 2020 and
subsequent marketed secondaries, and is consistent with Dragoneer’s
prior strategic investments in other market-defining high-growth
public SaaS companies. Dragoneer often backs public companies over
many years in a variety of creative ways.
“Dragoneer has a strong track record of investing in leading
enterprise software companies and their decision to double down on
Jamf with this investment speaks volumes about the incredible
magnitude of Jamf’s long-term potential and our shared enthusiasm
for the company,” said Michael Fosnaugh, Co-Head of Vista’s
Flagship Fund and Senior Managing Director. “We are excited to have
Dragoneer join us as we continue to support Jamf on its journey to
becoming one of the world’s foremost enterprise software
businesses.”
“We are honored to be part of Dragoneer’s second-to-none
investment portfolio,” said Dean Hager, Chief Executive Officer of
Jamf. “People have always loved using Apple products in their home,
and we’re proud to be helping extend the legendary Apple experience
to businesses, schools and government organizations. We remain
committed to empowering organizations with a better Apple
experience and look forward to continuing to find new ways to
create value for our customers.”
About Dragoneer Investment Group
Dragoneer Investment Group is a growth-oriented investment firm
with over $21 billion in long-duration capital from many of the
world’s leading endowments, foundations, sovereign wealth funds,
and family offices. The firm has a history of partnering with
management teams growing exceptional companies characterized by
sustainable differentiation and superior economic models. The
firm’s track record includes public and private investments across
industries and geographies, with a particular focus on
technology-enabled businesses. Dragoneer has been an investor in
companies such as Airbnb, Alibaba, Atlassian, AppFolio, Bytedance,
Ceridian, Chime, Datadog, Doordash, Duck Creek, PointClickCare,
Procore, Slack, Samsara, ServiceTitan, Snowflake, Spotify, Uber,
UiPath and others.
About Jamf
Jamf, the standard in Apple Enterprise Management, extends the
legendary Apple experience people love to businesses, schools and
government organizations through its software and the world’s
largest online community of admins focused exclusively on Apple,
Jamf Nation. To learn more, visit: www.jamf.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $77
billion in assets under management as of March 31, 2021. The firm
exclusively invests in enterprise software, data and
technology-enabled organizations across private equity, permanent
capital, credit and public equity strategies, bringing an approach
that prioritizes creating enduring market value for the benefit of
its global ecosystem of investors, companies, customers and
employees. Vista’s investments are anchored by a sizable long-term
capital base, experience in structuring technology-oriented
transactions and proven, flexible management techniques that drive
sustainable growth. Vista believes the transformative power of
technology is the key to an even better future – a healthier
planet, a smarter economy, a diverse and inclusive community and a
broader path to prosperity. Further information is available at
vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity
Partners, and on Twitter, @Vista_Equity.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210908005419/en/
Dragoneer Investment Group: Nate Johnson Sard Verbinnen & Co
Dragoneer-SVC@sardverb.com
Jamf: Jennifer Gaumond ir@jamf.com
Rachel Nauen media@jamf.com
Vista Equity Partners: Dafna Tapiero Laurel Strategies
vista@laurelstrategies.com
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