Sumeru Equity Partners has acquired Phoenix, Arizona-based Telesoft, a provider of communications expense and mobility management solutions. No financial terms were disclosed. Also, Telesoft has named Kevin Donoghue as CEO and Brian Martin as COO.
PHOENIX, AZ (PRWEB) AUGUST 31, 2016
Telesoft, a trusted leader in communications expense and mobility management software and solutions, announced that Sumeru Equity Partners (SEP)—along with company founder Thierry Zerbib and management—has acquired the company and made a strategic investment in support of the company’s growth and product development initiatives. Alongside the investment, Telesoft’s Board of Directors has appointed Kevin Donoghue as Chief Executive Officer and Director and Brian Martin as Chief Operating Officer. Zerbib—industry pioneer and expert in the communications management space—will continue to oversee the company’s technology platform in his new role as Chief Technology Officer as well as retain significant equity interest and Board representation.
Telesoft provides dynamic solutions to the continually increasing complexity that enterprises face in managing corporate communications across mobile, IP / fixed and cloud lines and devices. Telesoft Connect is an internally developed software product—built on the fully integrated Purpose-Driven Platform—that enables organizations to drive savings and provides a versatile toolset for ongoing management through a single, innovative interface. Customers utilize Connect to manage mobility, cloud and fixed footprints as well as usage, IT inventory, expense validation, cost reporting and financial system integration. Today, Telesoft serves over 200 enterprise clients representing billions of dollars of communications expense and mobility spend in the most complex, challenging and advanced enterprise environments in the world.
“We are excited to partner with SEP as we continue to maintain our industry-leading customer-focused approach,” said Zerbib. “Their management-centric partnership philosophy and focus in the areas of product innovation and go-to-market strategy will enable Telesoft to increase investment in new products, customer delivery and the company’s employee base. As an organization, we look forward to continued leadership from Kevin and Brian as we drive new, disruptive products and global expansion.”
Donoghue is an accomplished software leader and brings over 30 years of technology experience, having most recently served as President of Telesoft for the past 7 years. Donoghue’s career also includes leadership roles at NetPro, Intesource, Viasoft and IBM.
“Enterprise customers have benefited from a long-standing partnership with Telesoft as their own needs in managing communications and devices have become more complex,” said Donoghue. “When I joined Telesoft, I was highly enthusiastic about the company’s reputation and core values in addressing the growing TEM and mobility needs for customers. Since then, Telesoft has furthered these values and organically continued to add many Global 1000 enterprise customers while advancing a well-regarded product platform that addresses traditional and new areas of TEM and mobility. As CEO of Telesoft, I remain committed to our customer-oriented tradition and to advancing our leadership position in the industry.”
As a part of the investment, SEP Managing Directors Kyle Ryland, George Kadifa and Sanjeet Mitra will join the Telesoft Board of Directors.
“Enterprise customers are spending increasing portions of their IT budgets on communications—particularly in the era of BYOD, cloud and Internet of Things connectivity. We believe Telesoft is well-positioned to deliver leading technology solutions to an expanding base of satisfied enterprise customers,” said George Kadifa and Sanjeet Mitra, Managing Directors at Sumeru Equity Partners. “We look forward to partnering with Kevin, Thierry and Telesoft management to seek to accelerate growth and maintain the company’s decades-long customer-centric strategy.”
The transaction closed in August 2016 and financial details were not disclosed. SunTrust Robinson Humphrey, Inc. provided financial advisory services to Telesoft in connection with the transaction.
Telesoft is a leading provider of communications expense and mobility management solutions to global enterprises across mobile, IP / fixed and cloud footprints. Telesoft Connect—an internally developed software product, built on the company’s fully integrated Purpose-Driven Platform—enables customer organizations to drive savings of up to 20-30% and provides a versatile toolset for on-going management through a single, innovative interface. Enterprise customers utilize Connect to manage mobility, cloud and IP / fixed footprints as well as usage, IT inventory, expense validation, cost reporting and financial system integration. Today, Telesoft serves over 200 enterprise and government clients representing billions of dollars of communications expense and mobility spend in the most complex, challenging and advanced enterprise environments in the world. The company is headquartered in Phoenix, Arizona and provides solutions to customers around the world. For more information about Telesoft, visit http://www.telesoft.com.
About Sumeru Equity Partners
Sumeru Equity Partners is a technology-focused private equity firm that invests in middle market companies across software, technology-enabled services and hardware. The firm was founded in 2014 by an experienced team from Silver Lake Sumeru, a private equity fund started in 2007 within Silver Lake. Sumeru Equity Partners utilizes extensive operating and investment experience in partnership with management teams to drive growth and build strategic value. For more information,please visit http://www.sumeruequity.com.