Copyright startribune
The Twin Cities is losing another public company after Jamf Holdings, which manages Apple devices for other companies, is acquired by global investment firm Francisco Partners in a $2.2 billion deal. The companies say the investment will give Jamf more financial flexibility to allow faster growth, said John Strosahl, Jamf’s chief executive, in a news release. Founded in 2002 in Eau Claire, Wis., the company went public in 2020 when it raised $468 million. Shares of Jamf peaked four years ago, but have been trading below $26 a share since May 2022. Over the past year, shares have traded in the range of $7.09 to $18. Shareholders of Jamf will get $13.05 a share in the deal announced Wednesday. As part of the deal announcement, the company canceled its quarterly earnings call and postponed releasing financial results until Nov. 10. Francisco Partners is a 20-year-old global investment firm based in San Francisco. It has $55 billion in assets under management and has done more than 450 transactions, specializing in technology and technology-enabled businesses. “We have long admired Jamf and its commitment to providing customers with best-in-class products that are absolutely beloved in the Apple community,” said Brian Decker and Karl Shum, partners at Francisco, in the release. The Jamf board of directors has approved the deal, which is expected to close in the first quarter of 2026, depending on timing of certain closing conditions.
