Mobileum inks deal to acquire WeDo Technologies

Mobileum struck a deal to acquire Portugal-based WeDo Technologies, a move which strengthens the combined company’s provision of roaming, revenue assurance and fraud management services.

In a statement, Mobileum said WeDo Technologies provides great value to global service providers through its “massive suite of technology and products”, and it was now looking forward to supporting the company in its next phase of growth.

The acquisition is Mobileum’s second in the space of a year, after it purchased Evolved Intelligence [1] in October 2018,

Mobileum explained WeDo Technologies helps operators drive revenue, mitigate risk and prevent fraud on their networks, with its solutions “backed by advanced analytical insights, consulting, professional and managed services”.

Bobby Srinivasan, CEO of Mobileum, said: “As we continue to grow Mobileum, organically and inorganically, the addition of WeDo’s strong product engineering, customer footprint, consulting and services teams to our existing talented workforce around the world will allow us to expand the depth and breadth of our offerings.”

Mobileum said it has looked to grow its suite of analytics offerings in the years following its acquisition by Audax Private Equity in 2016. Acquiring WeDo Technologies enables it to provide “real-time actionable insights across roaming, fraud and security domains”.

The acquisition also serves to strengthen Mobileum’s presence globally. Combined, the merged company will have a team of more than 1,100 employees across 30 locations, serving more than 700 customers in 180 countries.

Financial details were not disclosed.

[1] https://www.mobileworldlive.com/featured-content/top-three/mobileum-strikes-deal-for-evolved-intelligence/

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