Mobileum Inc, which is backed by Audax Private Equity, has acquired Convene Networks, a provider of integrated core network solutions for 3G/4G/5G networks. No financial terms were disclosed.
CUPERTINO, Calif., June 23, 2021 /PRNewswire/ — Mobileum Inc. (“Mobileum”), a leading global provider of analytics solutions for roaming and network services, security, risk management, and testing and monitoring, is pleased to announce that it has acquired Convene Networks, a technology provider of integrated core network solutions for 3G/4G/5G networks. The acquisition expands Mobileum’s core network technology footprint, extending its portfolio of 5G Core (“5GC”) solutions and providing commercial off-the-shelf (“COTS”) 5G-in-a-box for small carriers and private networks.
This acquisition follows the recent acquisition of Developing Solutions and it is in line with Mobileum’s growth strategy since its acquisition by Audax Private Equity in 2016, as it continues building an integrated suite of analytics solutions to support telecom operators as they roll out 5G, launch new IoT services, and accelerate their digital transformation.
Mobileum’s Active Intelligence platform is a leading telecom-focused analytics technology that supports roaming, network services, security, risk management, and testing. Convene Networks will enhance its core network capabilities by providing network elements needed to support a fully virtualized, secure infrastructure and by extending critical 5G core authentication, subscription management, and analytics functions. With these new capabilities, Mobileum can provide telecom operators a broader 5G network offering delivered as an integrated package, that is scalable and highly efficient, and which can be used to support small carriers and private network use cases.
“Convene Networks is an outstanding technology company with a set of innovative products that will help accelerate our 5G growth strategy. Mobileum’s portfolio of network solutions has been helping service providers monetize their network and service environments, enabling them to offer next generation B2B and B2C services with unparalleled efficiency. This acquisition strengthens our foundations and expands our solutions at the core of 5G and provides a “stronghold” to build and develop our 5G vision,” stated Bobby Srinivasan, CEO of Mobileum.
Convene Networks’ product portfolio, including ConveneGSC GTP routing and session controller, ConveneHSS home subscriber server, ConveneEIR equipment identity register, will integrate with Mobileum’s Active Intelligence portfolio and its engineering team will reinforce Mobileum’s team of core network experts.
About Audax Private Equity
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 950 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website: www.audaxprivateequity.com or follow us on LinkedIn.
About Convene Networks
Convene Networks is a software solution provider for the Wireless and Telecommunications markets. Convene Networks supplies high availability, reliable solutions to meet customer needs, transforming the way telecommunications service providers design and grow their network. The company’s primary focus is to develop high-performance telecommunications network software solutions that are purpose-built for NFV. Convene Networks’ solutions enable service providers to rapidly scale critical mobile network nodes to meet the demands of their every changing networks, while also offering market leading performance. Convene Networks helps telecommunications service providers accelerate innovation by removing the complexities of dedicated hardware platforms, so that they can focus on driving their business forward.
About Mobileum Inc.
Mobileum is a leading provider of Telecom analytics for roaming, network services, security, risk management and domestic and international connectivity testing. More than 900 operators rely on its Active Intelligence platform, which provides advanced analytics based solutions, enabling customers to connect operational intelligence with real-time actions that increase revenue, improve customer experience and reduce costs. Headquartered in Silicon Valley, Mobileum has global offices in Dubai, Germany, India, Portugal, Singapore and UK.