Mobileum Inc. Acquires WeDo Technologies
Two strong players in Roaming, Revenue Assurance, and Fraud Management come together to further strengthen their ability to provide cutting edge technology and solutions to the telecommunications industry
BANGALORE and CUPERTINO, California, Aug. 14, 2019 /PRNewswire/ -- Mobileum Inc. ("Mobileum"), a leading global provider of analytics-based roaming and risk management solutions, today announced the acquisition of WeDo Technologies, ('WeDo'). This is the second acquisition Mobileum has completed, following the purchase of Evolved Intelligence in October 2018.
Headquartered in Lisbon, Portugal, WeDo is a leader in risk and business management solutions for communication service providers (CSPs) globally, helping them to drive revenues, mitigate risk, and prevent fraud on their networks. WeDo's rich and exhaustive portfolio of products and solutions is backed by advanced analytical insights, consulting, professional and managed services.
"WeDo is a leading company in the risk management, business management and business optimization space. The company has developed an impressive suite of technology and products that deliver great value to global CSPs," said Bobby Srinivasan, CEO of Mobileum. "We are excited to partner with WeDo and support them in the next phase of their growth. As we continue to grow Mobileum, organically and inorganically, the addition of WeDo's strong product engineering, customer footprint, consulting and services teams to our existing talented workforce around the world will allow us to expand the depth and breadth of our offerings. We look forward to combining the capabilities of our product portfolios to create excellent value propositions for our customers."
"Mobileum, with its complementary business and global customer reach, is an ideal partner for WeDo Technologies as we embark on the next stage in our growth," said Rui Paiva, CEO WeDo Technologies. "The combined business offers our customers a richer and more diverse portfolio of solutions in the domains of Revenue Assurance, Fraud Management, Network Security, Roaming and Interconnect. As the mobile industry continues to evolve, this transaction will allow us to continue to invest in the future architecture, assuring the success of our customers along a journey of continuous transformation."
Mobileum has consistently grown its suite of analytics offerings in the years following its acquisition by Audax Private Equity in 2016. Building on 18 years of leadership in the sphere of roaming, Mobileum has utilized exceptional knowledge of mobile telecommunications to develop its 'Active Intelligence' platform that powers real-time actionable insights across the roaming, fraud and security domains. The combination of WeDo's risk and business management solutions with Mobileum's advanced analytics platform will create an innovative and comprehensive framework for fraud and risk management and revenue assurance for network operators. WeDo's domain expertise will further enrich the combined solution portfolio and benefit Mobileum's customers and partners.
The acquisition also serves to strengthen Mobileum's presence globally. The existing WeDo platform and architecture will be maintained and developed for further integration with the Mobileum Active Intelligence platform. Mobileum and WeDo will have a combined team of over 1,100 employees across more than 30 global locations, serving more than 700 customers in over 180 countries.
About Mobileum
Mobileum delivers analytics solutions that generate revenues, reduce costs and accelerate digital transformation for more than 600 Communications Service Providers across 150 countries. Mobileum's solutions help to grow and protect existing CSP revenue streams, as well as drive new revenues through business model innovation. Mobileum focuses on key CSP domains including roaming and interconnect, counter fraud and security, data monetization and digital transformation. Mobileum's success is built on its unique Active Intelligence platform which combines analytics and engagement technology with deep network and CSP systems integration to deliver end to end solutions.
Mobileum is based in California's Silicon Valley, with offices in Argentina, Dubai, Hong Kong, India, Jordan, Singapore, the United Kingdom, and Uruguay. To learn more, visit www.mobileum.com and follow @MobileumInc on Twitter.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $25 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 125 platforms and 775 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies.
About WeDo Technologies
Founded in 2001, WeDo Technologies is the global market leader in Revenue Assurance and Fraud Management software solutions to Telecom, Media, and Technology organizations worldwide.
WeDo Technologies provides Risk and Business Management software, as well as expert consulting and analytics, across 105+ countries, through a network of 600+ highly skilled professionals present in Europe, US, Latin America, Africa, Middle East and Asia Pacific.
WeDo Technologies Risk Management solutions analyze large quantities of data allowing one to monitor and control processes, ensuring revenue protection and risk mitigation. WeDo Business Management solutions enable the automation and optimization of numerous business processes, such as incentive compensation, collections, and roaming management.
With over 200 customers - including some of the world's leading blue-chip companies - WeDo Technologies has long been recognized as the constant innovator in assuring the success of its customers along a journey of continuous transformation. For more information, visit www.wedotechnologies.com.
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