Audax-backed Mobileum acquires WeDo Technologies

Mobileum, a portfolio company of Audax Private Equity, has acquired WeDo Technologies, a provider of risk and business management solutions for communication service providers. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity portfolio company, Mobileum, acquires WeDo Technologies

THE COMPANY

WeDo Technologies (“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 portfolio of products and solutions is backed by advanced analytical insights, consulting, professional, and managed services.

THE DEAL
Mobileum Inc (“Mobileum”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of WeDo, representing the company’s second acquisition since Audax’ investment.

THE THESIS
In November 2016, Audax partnered with Mobileum, a leading provider of analytics-based software that enable roaming, fraud, and security protection for mobile telecom carriers across 150 countries. In addition to continuing to grow organically, Mobileum will look to expand through acquisitions in adjacent product categories to leverage their global customer base. To support this strategy, the Company is seeking add-on acquisition opportunities of all sizes with a focus on analytics, security, and fraud.