March 15, 2007
Tangoe, Inc. and TRAQ Wireless, Inc. Merge
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.”
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 firstname.lastname@example.org, 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.
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