Leaders in technology-based voice, data, and wireless
lifecycle management deliver industry’s most comprehensive
technology-based solutions and services
ORANGE, Conn. and AUSTIN, Tex., March 15, 2007
— Tangoe, Inc. a leading provider of Telecom Expense
Management (TEM) solutions and TRAQ Wireless, Inc., a leading
provider of Mobile Lifecycle Management Solutions announce
the completion of the merger of the two companies. Operating
under the name Tangoe, Inc., the new organization provides
technology-based software and service solutions that enable
global organizations to procure, manage, and control their
voice, data, and wireless communications resources.
The newly formed organization represents the fastest growing
company in the telecom expense management market. With more
than 250 leading global clients, comprehensive technology-based
solution offerings, multiple technology patents, extensive
domain expertise, and a robust channel partner program,
the new company is a leader in the telecommunications lifecycle
management marketplace.
“Managing telecommunications costs remains a top-line
priority for most enterprises, but managing expenses is
only part of the challenge,” said Joe Basili, research
director for Aberdeen Group. “Enterprises are also
struggling to manage all aspects of the communications lifecycle,
including device management, adhering to rigorous security
requirements, providing help desk services to their employees,
and supporting applications in a mobile environment. In
our latest survey, 70% of survey respondents indicate they
see the benefits of consolidating wireless and wireline
expense management to address the full lifecycle of cost
management. The merger of Tangoe and TRAQ will bring these
powerful capabilities together for enterprise customers.”
Operational integration of the two companies is underway
with Tangoe founder Al Subbloie remaining as president and
CEO, and TRAQ president and CEO Rick Pontin serving as chairman.
Corporate headquarters are in Orange, CT with a major operational
facility in Austin, TX, and international offices located
in Manchester, England, and Kuala Lumpur, Malaysia.
“Our merger is in direct response to evolving needs
of the marketplace,” said Al Subbloie. “The
combined capabilities of Tangoe and TRAQ enable corporations
worldwide to manage the explosive growth of wireless, wireline,
and data communications in a comprehensive, unified way.
By blending best-of-breed products, services, and technologies,
we have created capabilities that uniquely address the needs
of both domestic and global corporations.”
Complementary Strengths and Synergies
Both Tangoe and TRAQ bring complementary elements to the
merger including business models, technologies, solution
offerings, clients, and partnerships. The benefits that
extend to enterprises around the globe include:
- A comprehensive set of best-in-class wireline and wireless
lifecycle management solutions
- A full range of managed services that offer procurement,
change management, invoice processing, billing assurance,
contract management, dispute management, and device management
for wireless and wireline services
- Significant investment to meet rapidly evolving global
requirements and support the accelerated adoption of its
solutions in Latin America, EMEA, and Asia Pacific
- Extensive integration capabilities with domestic and
international carrier billing and provisioning systems
as well as internal legacy systems, including numerous
accounts payable, general ledger, MRP, and human resource
systems
- Fully staffed research and development teams in Orange,
CT and Austin, TX focused on meeting the current and future
customer needs
“We have combined the two fastest growing companies
in the industry,” said Rick Pontin. “The new
Tangoe has the most complete set of technology-based solutions
and services in the market. Our customers now have the benefit
of a unified, comprehensive solution that supports their
voice, data, and wireless communication needs on a global
basis.”
About Tangoe
Tangoe, Inc., a global leader in telecommunications lifecycle
solutions, provides technology-based software and service
solutions that enable global organizations to procure, manage,
and control their voice, data, and wireless communications
resources. Tangoe's software is built upon patented technologies
that enable dramatic cost reductions and process efficiencies
which significantly contribute to organizational profitability.
Global 2000 organizations worldwide depend on Tangoe software
and services to more effectively manage their telecommunications
processes. In 2006, Tangoe was No. 105 on the Inc. 500 list
of fastest growing private companies, ranked No. 64 on Deloitte's
Fast 500, and was named the second fastest growing Connecticut
technology company in the Deloitte Technology Fast 50. Tangoe
has offices in Orange, Connecticut, Austin, Texas, and international
offices in Manchester, England, and Kuala Lumpur, Malaysia.
Tangoe provides solutions in the United States through direct
and partner sales channels, and internationally through
partner sales channels.
Additional information about Tangoe products, services,
and partners can be found at http://www.tangoe.com,
or requested via e-mail at
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,
or by calling (203) 859.9300.
Tangoe is a registered trademark of Tangoe, Inc.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements
that involve substantial uncertainties and risks. These
forward-looking statements are based upon our current expectations,
estimates and projections about our business and our industry,
and that reflect our beliefs and assumptions based upon
information available to us at the date of this letter.
We caution readers that forward-looking statements are predictions
based on our current expectations about future events. These
forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and
assumptions that are difficult to predict. Our actual results,
performance or achievements could differ materially from
those expressed or implied by the forward-looking statements
as a result of a number of factors, including but not limited
to, changes in: economic conditions generally, changes in
technology, legislative or regulatory changes that affect
us, the availability of working capital, changes in costs
and the availability of goods and services, the introduction
of competing products, changes in our operating strategy
or development plans, our ability to attract and retain
qualified personnel, and changes in our acquisition and
capital expenditure plans.
FOR MORE INFORMATION, CONTACT:
Renee Maler
Philosophy PR + Marketing
925.968.9495
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