MobileIron enters cooperation agreement with Altai Capital Management to accelerate growth
MobileIron, the company that introduced the industry’s first mobile-centric, zero trust platform for the enterprise, announced that it has entered into a cooperation agreement with Altai Capital Management, which owns approximately 7% of MobileIron’s outstanding shares.
Under the terms of the agreement, Rishi Bajaj will join MobileIron’s Board of Directors, effective immediately, filling an open Board seat and bringing the total number of current Board members from six to seven. Mr. Bajaj will join the class of directors with terms expiring at the 2022 annual meeting of the Company’s stockholders.
Mr. Bajaj currently serves as the President and Chief Investment Officer of Altai. He received his Bachelor of Science degree in Economics from the Wharton School at the University of Pennsylvania.
“Having been a long-term investor in MobileIron for many years, Rishi knows the business well and we are confident that he will bring a valuable and distinct perspective to our Board,” said Simon Biddiscombe, CEO and Board member, MobileIron.
“MobileIron is uniquely positioned to bring security to the zero-trust world and Rishi’s experience will be helpful as we continue our commitment to leveraging our strong position to deliver long-term value for all MobileIron stakeholders.”
“As one of MobileIron’s largest shareholders, our firm has maintained a strong belief in the value of the company’s technology, leadership team and strategy, and we continue to be impressed by the innovative set of solutions addressing modern security challenges that MobileIron has engineered over the years,” said Rishi Bajaj, Founder, President, and Chief Investment Officer of Altai.
“With this agreement, the MobileIron Board has further demonstrated its ongoing commitment to and alignment with shareholders, and its openness to input. I am pleased to be joining the MobileIron Board and look forward to working closely with fellow Board members and the management team to help move the business forward and drive MobileIron’s long-term shareholder value.”
The complete agreement between MobileIron and Altai will be filed as an exhibit to a Current Report on Form 8-K with the Securities and Exchange Commission.