Mobileum, which has been owned by Audax Private Equity since 2016, did not say how much it is paying, though one unconfirmed report suggested $70 million and a Portuguese report put the figure at closer to $100 million. WeDo was owned by Portuguese telecoms investor Sonaecom.
Bobby Srinivasan, CEO of Mobileum, said: “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.”
It is Mobileum’s second acquisition in less than a year: in October 2018 it bought Evolved Intelligence for an undisclosed price from Eden Ventures, described as an early stage venture capital fund.
WeDo Technologies CEO Rui Paiva (pictured), who founded the company in 2001, said: “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.”
Srinivasan said: “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 [communications service providers].”
Mobileum said it would maintain the existing WeDo platform and architecture and would develop it 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 locations, serving more than 700 customers in over 180 countries.
In February Mobileum entered into a partnership with wholesale telecoms platform provider Linxa to extend the market reach of their respective product portfolios. Yesterday Capacity reported Mobileum had hired Miguel Carrero to lead its security business.
