Private equity firm Francisco Partners has agreed to acquire Jamf Holding Corp (NASDAQ: JAMF) in an all-cash deal valued at approximately $2.2 billion, the companies announced Wednesday. The move will take the Apple device management software provider private, sending Jamf’s shares up more than 15% in premarket trading.

Under the terms of the agreement, Francisco Partners will pay $13.05 per share in cash — a 24% premium to Jamf’s closing price on September 11, the day before reports of a potential sale emerged.

Vista Equity to Exit Stake

Vista Equity Partners, which acquired a majority stake in Jamf in 2017 and currently holds about 34% ownership, will fully exit its position once the transaction closes.

The deal, expected to close in the first quarter of 2026, marks one of Francisco Partners’ latest bets on enterprise software and cybersecurity amid a wave of take-private transactions in the tech sector.

Jamf’s Business and Financial Challenges

Founded in 2002 and headquartered in Minneapolis, Minnesota, Jamf specializes in Apple device management and endpoint security solutions that help IT administrators deploy and secure large fleets of iPhones, iPads, and MacBooks.

The company reported 15% year-over-year revenue growth in the second quarter of 2025, reaching $176.5 million, and raised its full-year guidance. However, profitability has remained elusive, with Jamf continuing to post net losses despite rising revenues.

Jamf went public in July 2020 at the height of the pandemic-driven tech boom but has since seen its stock fall roughly 21% year-to-date, pressured by broader market corrections in software valuations.

Francisco Partners’ Strategy

Francisco Partners, known for investing in technology and software companies, has an active portfolio that includes SonicWall, Forcepoint, and MyFitnessPal. The firm has increasingly targeted underperforming but strategically valuable public tech companies for privatization, betting that operational restructuring can unlock long-term value.

Citi is serving as the exclusive financial adviser to Jamf on the transaction.

The acquisition comes amid renewed private equity interest in the enterprise device management sector, where growing security concerns and hybrid work models continue to drive corporate demand for cloud-based IT solutions.