Key Takeaways
- • Audax Private Equity completed the sale of Mobileum Inc., a Cupertino, CA-based telecom analytics software provider, to H.I.G. Technology Partners (HTP), an affiliate of H.I.G. Capital, according to a Business Wire announcement dated March 2, 2022.
- • Following the transaction, H.I.G. becomes the majority owner of Mobileum alongside management, while Audax retains a minority equity stake; financial terms were not disclosed.
- • Audax acquired Mobileum in 2016 and during its hold completed five add-on acquisitions, expanded into Asia-Pacific through Mobileum Japan KK, and serves more than 1,000 customers globally.
- • Jefferies served as lead financial advisor to Audax, Lincoln International as co-advisor, and Kirkland & Ellis as legal advisor.
Summary
Audax Private Equity announced that it has completed the sale of Mobileum Inc. ("Mobileum"), a leading global provider of telecom analytics solutions, to H.I.G. Capital ("H.I.G.") through an affiliate of H.I.G. Technology Partners ("HTP"). Under the transaction, H.I.G. will be the majority owner of Mobileum alongside management, and Audax will retain a minority equity stake. Financial terms were not disclosed.
Headquartered in Cupertino, California, Mobileum is a software provider of mission-critical solutions that help communications service providers manage increasingly complex networks. Its analytics-driven product suite covers roaming and network services, network security, risk management, connectivity testing, and subscriber intelligence, and supports more than 1,000 customers worldwide. The company cites the rollout of 5G and IoT as drivers of demand for solutions that manage network ecosystems, maintain quality of service, and reduce fraud and cybersecurity threats.
During Audax's ownership, which began in 2016, Mobileum completed five add-on acquisitions to broaden its offerings in adjacent product categories, established a Japanese subsidiary, Mobileum Japan KK, hired key management, added Board members, and received several industry awards. Tim Mack, Managing Director of Audax, said the firm had enjoyed a "terrific partnership" with Mobileum, while fellow Managing Director Iveshu Bhatia noted the company's role in supporting telecom operators through the adoption of 5G. Bobby Srinivasan, CEO of Mobileum, said Audax had been instrumental in building the company's network solutions portfolio and described the H.I.G. partnership as "a natural next step" in the company's evolution as it continues to consolidate the market.
Jefferies acted as lead financial advisor to Audax Private Equity, with Lincoln International as co-advisor and Kirkland & Ellis as legal advisor. Audax Private Equity, part of Audax Group, reports having invested over $9 billion across 150 platforms and more than 1,050 add-on companies, and is investing from its $3.5 billion sixth private equity fund.
Headquartered in Cupertino, California, Mobileum is a software provider of mission-critical solutions that help communications service providers manage increasingly complex networks. Its analytics-driven product suite covers roaming and network services, network security, risk management, connectivity testing, and subscriber intelligence, and supports more than 1,000 customers worldwide. The company cites the rollout of 5G and IoT as drivers of demand for solutions that manage network ecosystems, maintain quality of service, and reduce fraud and cybersecurity threats.
During Audax's ownership, which began in 2016, Mobileum completed five add-on acquisitions to broaden its offerings in adjacent product categories, established a Japanese subsidiary, Mobileum Japan KK, hired key management, added Board members, and received several industry awards. Tim Mack, Managing Director of Audax, said the firm had enjoyed a "terrific partnership" with Mobileum, while fellow Managing Director Iveshu Bhatia noted the company's role in supporting telecom operators through the adoption of 5G. Bobby Srinivasan, CEO of Mobileum, said Audax had been instrumental in building the company's network solutions portfolio and described the H.I.G. partnership as "a natural next step" in the company's evolution as it continues to consolidate the market.
Jefferies acted as lead financial advisor to Audax Private Equity, with Lincoln International as co-advisor and Kirkland & Ellis as legal advisor. Audax Private Equity, part of Audax Group, reports having invested over $9 billion across 150 platforms and more than 1,050 add-on companies, and is investing from its $3.5 billion sixth private equity fund.
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