Tangoe closes strategic partnership deal with Vodafone
Telecoms expense management (TEM) provider Tangoe has announced the official closure of its strategic partnership deal with Vodafone, enabling the former to become Vodafone’s preferred TEM partner.
The deal, announced back in April so in line with the customary 60 days required for transactions such as this to close, means Tangoe will hire a “majority” of Vodafone’s TEM business employees. Tangoe has paid $1.125 million towards the deal at the time of closing from an overall $4.5m, with Vodafone paying one third of its $9m costs at the close.
When the original partnership was announced, both sides were making all the right noises. “All parties stand to gain as Vodafone and Tangoe combine their reach and expertise to deliver world-leading TEM services to enterprise customers,” said Jan Geldmacher, Vodafone Global Enterprise chief executive in a statement. Al Subbloie, Tangoe CEO and president, said in a statement: “We see tremendous potential to deliver additional value to Vodafone’s global base of enterprise customers through Matrix.”
Yet the company’s trajectory of late has been rather like the well-worn duck analogy; attempting to be serene on the surface, but paddling frantically underneath. Subbloie resigned from his post in early May in what management-change.com described as a “spectacular” departure. A successor has yet to be appointed, with the boardroom shuffle continuing apace. Jay Zager has joined as interim CFO, while Sidra Berman, formerly VP marketing of IoT vendor Savi Technology, joins as CMO.
Change is also afoot in the product side. In May Tangoe unveiled its ‘mobility as a service’ offering, moving further into managed mobility services with device provisioning, management, and 24/7 help desk functionality. “This is the next evolution – TEM is a component of the solution,” said Paul Ybarra, SVP of solutions group sales.
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