Tangoe and Vodafone strike up strategic partnership for TEM
Telecoms expense management (TEM) provider Tangoe has announced a strategic agreement with Vodafone with the former acquiring TEM technology and the latter using Tangoe’s solutions as its preferred provider.
According to the 8-K form submitted to finalise the agreement, Tangoe will also hire “a majority” of Vodafone’s TEM business employees, and will shell out $4.5m (£3.2m) for the deal, with $1.125m to be paid at closing and the three remaining instalments to arrive over a period of one year. Vodafone will pay a total of $9m as part of the deal, with one third to be paid at closing.
“We are very excited about the synergy this strategic partnership can bring to current and future clients, as the Vodafone TEM business fits particularly well within the core of Tangoe’s broader solution suite,” said Al Subbloie, CEO and president of Tangoe. “We see tremendous potential to deliver additional value to Vodafone’s global base of enterprise customers through Matrix, which helps clients gain visibility, control, and financial management of critical IT assets, services, and usage.”
“Telecom expense management is an important element in Vodafone’s total communications strategy,” said Jan Geldmacher, Vodafone Global Enterprise chief executive. “All parties stand to gain as Vodafone and Tangoe combine their reach and expertise to deliver world-leading TEM services to enterprise customers.”
Telecoms expense management, whilst arguably not the most exciting area of enterprise mobility management (EMM) – analyst house Ovum saw fit to include it as one of its six components of an integrated EMM solution in its 2014 report – remains important. Tangoe’s particular expertise and laser focus in TEM, with less of a focus on areas such as mobile device management (MDM), mobile app management (MAM) and app development platforms, meant it dropped out of Gartner’s 2015 Magic Quadrant for EMM.
Subject to customary closing conditions, the transactions are expected to close within 60 days.
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