Riverside Partners Acquires Calero: TEM in Transistion

Calero Logo
Calero

On September 13th, 2017, Riverside Partners, a Boston-based private equity firm, announced the acquisition of Calero Software from Clearlake Capital. Calero manages more than $6 billion of annual telecom, mobility, and cloud spend for more than 3,000 customers in 40+ countries and provides managed mobility services for more than 400,000 devices, making it one of the largest technology expense management solutions overall behind Tangoe’s $38 billion+ in technology expense management and Flexera’s $13 billion+ in software expense management. (Cass does not break out its telecom spend, but Amalgam believes it to be similar in scale to Calero.)

This blog covers Amalgam’s perspective on:

  1. Why Clearlake sold Calero.
  2. Who is Riverside Partners, a relatively new player in the TEM space?
  3. What to expect from Calero going forward.
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The Definitive Guide to the Asentinel-Tangoe Merger: Marlin Equity Partners Agrees to Acquire Tangoe

Marlin Equity, Asentinel, and Tangoe
Asentinel-Tangoe Merger brings together much of TEM's history.
Asentinel-Tangoe Merger brings together much of TEM’s history.

[Updated May 3rd with links to additional coverage from AOTMP, Blue Hill Research, Oracle Dispatch, StraTEM Consulting, and the Wall Street Journal]

On April 28, Marlin Equity Partners, an investment firm with over $3 billion in capital under management and the current owner of Telecom Expense and Enterprise Mobility Management vendor Asentinel, announced entering an agreement to purchase Tangoe for $6.50 per share for a transaction estimated at $242.6 million in cash.

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