Apple partner JAMF files for IPO after almost two decades in business

July 1, 2020
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Apple partner JAMF files for IPO after almost two decades in business 1

Apple accomplice JAMF recordsdata for IPO after nearly 20 years in enterprise

College students work on computer systems on the 42 faculty campus in Paris.

Martin Bureau | AFP | Getty Photographs

JAMF’s IPO prospectus names Apple 533 instances. The corporate says its mission is to “assist organizations succeed with Apple.” Certainly one of its key threat elements is that prospects change into dissatisfied with Apple merchandise.

Based 18 years in the past, JAMF is lastly headed for the general public market. In its prospectus launched on Tuesday, the corporate is not shy about tying its fortunes to a tech large that is now valued by traders at over $1.5 trillion.

“Apple is ubiquitous,” JAMF says within the business background part of its submitting. “It has reworked the know-how panorama by putting the consumer first and designing the whole lot round maximizing the Apple consumer expertise.”

JAMF helps firms securely deploy all of these Apple merchandise, connecting them collectively and giving IT groups the instruments to handle them. Within the first quarter, income climbed 37% from a yr in the past, to $60.four million, and the corporate’s gross margin rose to 75% from 70%, as extra prospects turned to its subscription providing. It is nonetheless shedding cash, although its web loss narrowed barely from $9 million to $8.three million.

JAMF has been round for a very long time, however its enterprise has taken off in the previous few years as Apple units grew to become extra widespread in enterprise environments. Previous to the iPhone’s rise final decade, firms tended to depend on PCs operating software program from Microsoft and different distributors, and a myriad of telephones from completely different suppliers. The iPhone’s reputation satisfied some firms to take a better take a look at different Apple merchandise, together with iPads and Macs.

Apple grew to become a buyer in 2010 and a channel accomplice in retail and schooling a yr later. In its buyer case research part of the prospectus, JAMF highlights IBM, which determined in 2015 to deploy greater than 30,000 Mac computer systems over a six-month interval to workers, and SAP, which in 2018 shifted workers to over 80,000 iPhones and iPads in seven months.

JAMF says opponents embody VMware, Microsoft and IBM, although none of them are targeted on merchandise within the Apple ecosystem.

Apple itself represents a special type of threat. Simply final week the iPhone maker introduced the acquisition of Fleetsmith, a four-year-old firm, whose software program makes it simpler to remotely configure, wipe and deploy units.

Competing with Apple?

JAMF stated it at present sees Fleetsmith as targeted on small and medium-sized companies and never in direct competitors for a similar prospects.

“Nevertheless, Apple may leverage this platform, whether or not by extra funding or the consolidation of different opponents of ours, to compete extra straight with the size and breadth of product choices we offer,” the submitting warns. 

One other outstanding theme in JAMF’s prospectus is the coronavirus pandemic. The phrases Covid and coronavirus present up a mixed 60 instances within the submitting.

The coronavirus, which despatched workplace employees and college students throughout the nation house in February and March, has underscored the necessity for firms to undertake distant administration applied sciences, the submitting says. Well being-care suppliers and colleges, particularly, have change into extra reliant on iPads and have needed to transition to them in a rush.

JAMF is telling traders that many of those traits are seemingly right here to remain.

“The COVID-19 pandemic has accelerated the necessity for options to empower distant work, distance studying and telehealth,” the prospectus says. “Whereas these traits have been gaining thoughts share previous to the pandemic, latest challenges have added momentum to those digital transformation modifications that may final lengthy after the struggles associated to COVID-19 have handed.”

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