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By In News On January 30, 2014


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Breaking News: Tangoe to be combined with Asentinel
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Tangoe to be combined with Asentinel to create a market leader

LOS ANGELES & ORANGE, Conn. & MEMPHIS, Tenn. April 28, 2017 — Marlin Equity Partners (“Marlin”), a global investment firm, announced today that it has entered into a definitive agreement to acquire all outstanding shares of Tangoe, Inc. (OTCPK:TNGO) (“Tangoe”) for $6.50 per share in cash. Tangoe is a global leader in telecom expense management (“TEM”) solutions that enable enterprises to manage and optimize spend across multiple IT categories by providing visibility into the complex processes associated with their assets and expenses.

“After careful consideration and deliberation, our Board of Directors concluded that the sale of Tangoe to Marlin was in the best interest of Tangoe and its shareholders,” said Jerry Kokos, Executive Chairman of Tangoe. “Given its deep bench of operational resources and excellent track record of acquiring and growing businesses in the TEM market, Marlin is an ideal partner for Tangoe. This transaction provides the opportunity for immediate and substantial value to Tangoe shareholders, while also allowing Tangoe greater flexibility to execute on its long-term strategic vision.”

At closing, Marlin intends to combine Tangoe with its existing portfolio company Asentinel, a provider of TEM software and services. The combination would create a market leader managing more than $38 billion of IT and telecom spend on behalf of over 1,300 customers worldwide. The new company would operate under the Tangoe brand with Jim Foy continuing to serve as CEO, with Tim Whitehorn, CEO of Asentinel, serving as the Chief Product Officer.

“We are excited about the opportunity to partner with Marlin and combine with Asentinel, and see tremendous benefit in combining Tangoe’s global scale and comprehensive offering with Asentinel’s heritage of technological innovation,” said Mr. Foy. “The breadth and depth of our combined product and service capabilities, delivered on a global scale, should enable us to provide a compelling value proposition to our customers,” added Mr. Whitehorn.

“We look forward to working closely with the Tangoe and Asentinel teams to develop world-class solutions and drive customer success,” said Peter Chung, a principal at Marlin. “This agreement further supports Marlin’s long-term commitment to the TEM market and the value we believe these solutions deliver to customers.”

Follow this link to read the full press release: https://www.asentinel.com/marlin-equity-partners-enters-into-agreement-to-acquire-telecom-expense-management-leader-tangoe-inc/