Tangoe

Tangoe, Inc.
Company typePrivate
FoundedFebruary 14, 2000; 24 years ago (2000-02-14) in Orange, Connecticut
Headquarters
Zionsville, Indiana
,
United States
Key people
James Parker, CEO
Websitetangoe.com

Tangoe, Inc. builds and provides technology expense management software & solutions. They provide telecom expense management, managed mobility services, and cloud expense management software which specialize in helping enterprises reduce time and effort needed to gain visibility and control over their technology spending, and help them save money on IT services. Tangoe partners with IT, finance, and procurement teams to assist with managing telecom expenses, mobile device management, and cloud cost management & optimization.

History

The company was founded in 2000 and had its initial public offering in 2011.[1] The company was then taken private in 2017 by Marlin Equity Partners for $242.6 million in cash.[2] Tangoe was then combined with another Marlin portfolio company, Asentinel.[3]

SEC Fraud Probe

On September 4, 2018, the SEC brought charges for improperly recognizing approximately $40 million in revenue by violating provisions of the federal securities laws.[4] A settlement of $1.5 million in penalties for the company, as well as an additional $100,000, $50,000, and $20,000 in penalties was reached between the former CEO, former CFO, and former Vice President of Finance respectively. On September 10, 2020, the SEC obtains final judgment against the remaining defendant and former Senior VP, Donald J. Farias, for an additional $20,000 in penalties and bars him serving as an officer or director of a public company for five years.[5]

Acquisitions

In 2009, Tangoe acquired InterNoded Inc, a mobile device managed services provider.[3]

In 2018, the company acquired mobility management company MOBI Wireless Management.[6]

References

  1. ^ "Tangoe prices IPO at $10 per share, within expected range". July 27, 2011 – via www.reuters.com.
  2. ^ "Marlin Equity buys telecom provider Tangoe, following two PE fund raises – Mergers & Acquisitions". www.themiddlemarket.com. April 28, 2017. Retrieved 2021-11-10.
  3. ^ a b Moore, Galen (Jan 15, 2009). "Tangoe buying mobile apps manager Internoded". bizjournals.com. Retrieved May 15, 2020.
  4. ^ "Tangoe, Inc. et. al. (Release No. LR-24255; Sep. 4, 2018)". www.sec.gov. Retrieved 2021-11-10.
  5. ^ "Tangoe, Inc. et. al. (Release No. LR-24893; Sep. 10, 2020)". www.sec.gov. Retrieved 2021-11-10.
  6. ^ "Marlin acquires MOBI, will merge with Tangoe". December 5, 2018.
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