BOSTON–(BUSINESS WIRE)–Audax Private Equity (“Audax”) announced today that it has completed the sale of Mobileum Inc. (“Mobileum” or the “Company”), a leading global provider of telecommunications analytics solutions , to HIG Capital (“HIG”) through an affiliate of HIG Technology Partners (“HTP”). Following the transaction, HIG will be the majority owner of Mobileum alongside management, and Audax will retain a minority stake. Financial terms were not disclosed.
Based in Cupertino, Calif., Mobileum is a leading global software provider of mission-critical solutions that enable communications service providers to manage increasingly complex networks. The company’s innovative suite of analytics solutions for roaming and network services, network security, risk management, connectivity testing and subscriber intelligence supports more than 1,000 customers across the world. Mobileum operates in a large and growing market as the rise of 5G and IoT accelerates demand for solutions to manage and maintain complex network ecosystems, ensure consistent quality of service and minimize fraud threats and cybersecurity.
Since its acquisition by Audax in 2016, Mobileum has experienced a period of transformation, growth and success, including:
Complete five add-on acquisitions, expand the Company’s offerings in adjacent product categories, enrich existing solutions and attract new blue-chip customers;
Expand its global presence, particularly in the Asia-Pacific region with the creation of a new subsidiary in Japan, Mobileum Japan KK;
Hire key executives and add new board members, bringing exceptional operational and management skills; and
Receive numerous industry awards and accolades for its market leadership, investment in its product portfolio and commitment to innovation.
Tim Mack, Managing Director of Audax, said, “We have fully benefited from a terrific partnership with Mobileum and are very proud of the growth the company has achieved. During our investment, the company acquired several market-leading companies to broaden its product offerings and increase its market share in the customer intelligence, security, roaming, fraud and security markets. income insurance. Iveshu Bhatia, CEO of Audax, added: “As the world moves towards rapid adoption of 5G, we look forward to closely watching how Mobileum continues to grow its integrated suite of analytics solutions to help telecommunications operators to accelerate their digital transformation. ”
“Audax has been instrumental in helping us build our current network solutions portfolio through organic growth in analytics-based products and add-ons in adjacent product categories,” said Bobby Srinivasan, CEO of Mobileum. . “Partnering with HIG is a natural next step in the evolution of Mobileum as we continue to consolidate the market and build an actionable analytics platform enabled by the deployment of 5G technologies and private networks across the world.”
Jefferies and Lincoln International acted as lead financial advisor and co-advisor, respectively, and Kirkland & Ellis acted as legal advisor to Audax Private Equity.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York and San Francisco. Since its inception in 1999, the firm has raised more than $30 billion in capital across its private equity and private debt businesses. Audax Private Equity has invested over $9 billion in 150 platforms and over 1,050 complementary companies, and is currently investing in its sixth $3.5 billion private equity fund. Through its disciplined Buy & Build approach, Audax Private Equity seeks to help platform companies achieve add-on acquisitions that fuel revenue growth, optimize operations and significantly increase equity value. With over 300 employees, Audax is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
Mobileum is a leading provider of telecommunications analytics solutions for roaming, core network, security, risk management, domestic and international connectivity testing, and customer intelligence. More than 1,000 customers trust its Active Intelligence platform, which provides advanced analytics solutions, enabling customers to connect deep network and operational intelligence to real-time actions that increase revenue, improve customer experience and reduce costs. Based in Silicon Valley, Mobileum has global offices in Australia, Germany, Greece, India, Portugal, Singapore, United Kingdom and United Arab Emirates.