Audax Private Equity (“Audax”) today announced that it has completed the sale of Mobileum Inc. (“Mobileum” or the “Company”), 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”). Following 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, CA, Mobileum is a leading global software provider of mission-critical solutions that allow communications service providers to manage increasingly complex networks. The Company’s innovative suite of analytics-driven solutions for roaming and network services, network security, risk management, connectivity testing, and subscriber intelligence support more than 1,000 customers across the globe. Mobileum operates in a large and growing market, as the rise of 5G and IoT accelerates the demand for solutions to manage and maintain complex network ecosystems, ensure consistent quality of service, and minimize fraud and cybersecurity threats.

Since being acquired by Audax in 2016, Mobileum has undergone a period of transformation, growth, and success, including:

• Completing five add-on acquisitions, expanding the Company’s offerings in adjacent product categories, enriching existing solutions and attracting new blue-chip customers;
• Expanding its global footprint, notably in the Asia-Pacific region with the establishment of a new subsidiary in Japan, Mobileum Japan KK;
• Hiring key management and adding new Board members, bringing outstanding operational and management skills; and
• Receiving numerous industry awards and recognitions for its market leadership, investment in its product portfolio and commitment to innovation.

Tim Mack, Managing Director of Audax, said, “We’ve thoroughly enjoyed a terrific partnership with Mobileum and are very proud of the growth the Company has achieved. Over the course of our investment, the Company has acquired multiple market-leading businesses to expand its product offerings and grow share in customer intelligence, security, roaming, fraud, and revenue assurance markets.” Iveshu Bhatia, Managing Director of Audax, added, “As the world moves toward a rapid adoption of 5G, we look forward to closely following how Mobileum will continue to build its integrated suite of analytics solutions to support telecom operators in accelerating their digital transformation.”

“Audax has been instrumental in helping us build our current portfolio of network solutions through the organic growth of analytics-based products and add-ons in adjacent product categories,” said Bobby Srinivasan, CEO of Mobileum. “The partnership with H.I.G. is a natural next step in Mobileum’s evolution as we continue to consolidate the market and build an actionable analytics platform enabled by the roll-out of 5G technologies and private networks across the globe.”

Jefferies and Lincoln International served as lead financial advisor and co-advisor, respectively, and Kirkland & Ellis served as legal advisor to Audax Private Equity.