M&A Deal Summary

Ivanti Acquires Pulse Secure

On September 28, 2020, Ivanti acquired information technology company Pulse Secure from Siris Capital Group and Farol Asset Management

Acquisition Highlights
  • This is Ivanti’s 1st transaction in the Information Technology sector.
  • This is Ivanti’s 4th transaction in the United States.
  • This is Ivanti’s 3rd transaction in California.

M&A Deal Summary
Date 2020-09-28
Target Pulse Secure
Sector Information Technology
Buyer(s) Ivanti
Sellers(s) Siris Capital Group
Farol Asset Management
Deal Type Add-on Acquisition
Advisor(s) Goldman Sachs (Financial)

Target

Pulse Secure

San Jose, California, United States
Pulse Secure LLC provides easy, comprehensive software-driven Secure Access solutions for people, devices, things, and services that improve visibility, protection, and productivity for our customers. Pulse Secure LLC suites and SaaS platform uniquely integrate cloud, mobile, application, and network access to enable hybrid IT in a Zero Trust world. Over 24,000 enterprises and service providers across every vertical entrust Pulse Secure to empower their mobile workforce to securely access applications and information in the data center and cloud while ensuring business compliance.

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Buyer(S) 1

Buyer

Ivanti

South Jordan, Utah, United States
Category Company
Sector Information Technology
DESCRIPTION

Ivanti is a provider of IT systems management, security management, and service management services. By integrating and automating critical IT tasks, Ivanti helps IT organizations successfully automate and secure the digital workplace. Ivanti is based in South Jordan, Utah.

DEAL STATS #
Overall 6 of 8
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (California) 3 of 4
Country (United States) 4 of 6
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-28 MobileIron

Mountain View, California, United States

MobileIron is a provider of software and systems for companies to transform into mobile-first organizations. MobileIron is redefining enterprise security with the industry’s first mobile-centric security platform for the Everywhere Enterprise. In the Everywhere Enterprise, corporate data flows freely across devices and servers in the cloud, empowering workers to be productive anywhere they need to work. MobileIron was established in 2007 and is based in Mountain View, California.

Buy $872M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Cherwell Software

Colorado Springs, Colorado, United States

Cherwell Software LLC is an IT and enterprise service management, Cherwell Software empowers IT to lead through the use of powerful and intuitive technology that enables better, faster, and more affordable innovation. The Cherwell® Service Management platform is built from the ground up with a unique codeless architecture that enables rapid time to value, infinite flexibility, and frictionless upgrades every time—at a fraction of the cost and complexity of legacy solutions. Cherwell Software was founded in 2004 and is based in Colorado Springs, Colorado.

Buy -

Seller(S) 2

SELLER

Siris Capital Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2011
PE ASSETS 2.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Siris Capital Group is a private equity firm focused on control investments in technology, telecommunications, and healthcare companies. Siris looks to acquire large companies valued from $250 million to $2 billion. The Firm was spun out of hedge fund SAC Capital Advisors in 2011. Siris Capital Group is based in New York City.

DEAL STATS #
Overall 6 of 9
Sector (Information Technology) 3 of 3
Type (Add-on Acquisition) 5 of 8
State (California) 2 of 2
Country (United States) 6 of 8
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 TPx Communications

Austin, Texas, United States

TPx Communications is a provider of UCaaS, Managed IT services and Managed Connectivity services, with approximately 30,000 customers and 53,000 customer locations across the U.S. TPx local exchange carrier that delivers local, long-distance, broadband Internet, web hosting, co-location, cloud-based and data transport services to business customers in California, Nevada and Texas. TPx Communications was established in 1998 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-21 VTX Telecom AG

Pully, Switzerland

VTX Telecom is an independent operator of national scope with a product portfolio that includes many innovative services such as Internet access, fixed telephony, and mobile, Web hosting, Cloud mainly intended for small and medium-sized enterprises (SMEs). The group is domiciled in Switzerland, in Pully near Lausanne. To meet its proximity commitments, the company relies on a network of branches in French-speaking and German-speaking Switzerland grouped together under the holding company VTX Telecom. VTX Telecom was formed in 1986 and is based in Pully.

Sell -
SELLER

Farol Asset Management

Investor Investor Investor

Category Private Equity Firm
Founded 2011
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Farol Asset Management is a private equity firm that looks to match institutional investors with direct investment opportunities. The Firm seeks to commit $5 to $30 million per transaction to support a variety of transaction situations and typically works with opportunities brought to it by private equity firms, fund-less sponsors, entrepreneurs and operating executives. Farol Asset Management was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 6 of 7
Sector (Information Technology) 1 of 2
Type (Add-on Acquisition) 3 of 4
State (California) 3 of 3
Country (United States) 5 of 6
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-15 24 Hour Fitness

San Ramon, California, United States

24 Hour Fitness is a health club provider, involved in helping members change their lives and reach their individual fitness goals. 24 Hour Fitness offers fitness solutions for everyone including personal training services, group exercise classes and strength, cardio and functional training equipment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 AVANTech

Columbia, South Carolina, United States

AVANTech is a provider of comprehensive industrial water treatment solutions. Our extensive experience in engineering process systems enables us to create integrated solutions that can dramatically improve operations in industrial, commercial and nuclear power applications. AVANTech was founded in 1999 and is based in Columbia, South Carolina.

Buy -
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