Orange, Conn., December 19, 2011 — Tangoe, Inc. (NASDAQ: TNGO), a leading global provider of Communications Lifecycle Management (“CLM”) software and related services, announced that it has acquired privately held ProfitLine, Inc., a global provider of telecom expense and mobility management services in a transaction that closed today, December 19, 2011. Under the terms of the acquisition agreement, Tangoe will pay approximately $23.5 million in cash, $14.5 million of which was paid upon closing, $4.5 million of which will be paid in 12 months, and $4.5 million of which will be paid in 18 months.
“We are very excited to announce the acquisition of ProfitLine, which we believe is among the largest independent CLM providers behind Tangoe. The addition of ProfitLine expands our customer base, broadens our vertical coverage, and provides an attractive cross-sell opportunity as we leverage Tangoe’s broader global footprint,” said Al Subbloie, president and CEO of Tangoe. “Tangoe has a proven history of complementing our organic growth by successfully identifying and integrating acquisitions, which we believe is among the core competencies that made us an industry leader.”