Jamf, which makes software that allows organizations to manage Apple devices, filed for U.S IPO on Tuesday. The initial valuation of the firm was $100 million, Bloomberg News, reported, although this will likely change.
The company was aiming to be valued at about $3 billion in the listing, Bloomberg News reported in January. Jamf, founded in 2002, makes MDM — mobile device management — software that lets organizations manage large numbers of iPhones, Macs, Apple TVs, and iPads. One of its features allows a company to update the software on all of its Apple devices at the same time. Apple itself has been a customer since 2010, the filing shows. Jamf’s dependence on the $1.6 trillion tech giant also features prominently in the section of the filing that outlines potential risks to its business, along with the potential financial impact of the coronavirus pandemic. In 2019, Apple represented less than 1% of Jamf’s total revenue.
Check It Out: Jamf Files For U.S. IPO With $100 Million Valuation