Mobileum has been acquired by Audax Private Equity, a private equity firm based in Boston, Massachusetts, and focused on building middle market companies. Terms of the deal have not been disclosed.
Audax partners with management teams to transform established market companies into larger, better-positioned and more valuable enterprises.
With this partnership, Mobileum expects to continue its focus on roaming systems while strengthening its rapidly growing analytics solutions portfolio. The entire leadership and management team will remain with the organisation through this change of ownership and will continue to invest in high quality associates through future acquisitions and new hires.
“Audax is an ideal partner for Mobileum at this stage in our growth and the partnership places us securely at the centre of an exciting time in the telecom industry,” stated Bobby Srinivasan, CEO of Mobileum. “Analytics enabled back-end systems coupled with conversational engagement solutions will be key catalysts in helping CSPs to compete and re-position themselves in the new digital economy and those that can best combine these solutions will thrive.”
“Working with Audax, we expect to be able to significantly increase our M&A activities and continue to help our customers to optimise revenue and accelerate digital transformation,” added Srinivasan.
Geoffrey Rehnert, co-chief executive officer of Audax said, “Mobileum is one of the leading companies in the mobile Roaming Software and Analytics industry. The company has developed an impressive suite of Analytics and Roaming products, making it an essential partner for mobile telecom carriers as they work to improve the roaming experience for their customers. We’re excited to partner with the team and support them in this next phase of growth.”
Previously known as Roamware, Mobileum was founded in 2001 and has since sold its roaming and analytics solutions to over 600 Mobile Operator customers worldwide. In 2014, Mobileum added a suite of innovative, analytic-driven solutions to its product portfolio to broaden its reach and value outside of Roaming.
Comment on this article below or via Twitter: @ VanillaPlus OR @jcvplus
