H.I.G. Capital News
Head of H.I.G. Technology Partners
One Sansome Street
San Francisco, CA 94104
H.I.G. Technology Partners Makes a Strategic Investment in Mobileum
SAN FRANCISCO – January 31, 2022 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $47 billion of equity capital under management, is pleased to announce that an affiliate of H.I.G. Technology Partners (“HTP”) has entered into a definitive agreement to make a strategic investment in Mobileum, Inc. (“Mobileum” or the “Company”) to help the Company accelerate technology investments and growth enabled by the roll-out of 5G technologies and private networks across the world. Following the transaction, H.I.G. will be the majority owner of Mobileum alongside previous owner Audax, which will retain a minority stake. The transaction is subject to customary closing conditions and required regulatory approvals. Terms were not disclosed.
Headquartered in Cupertino, CA, Mobileum is a leading global software provider of mission-critical solutions that allow communications service providers to manage increasingly complex networks. The Company serves a diversified, blue-chip customer base, including 35 of 36 global Tier 1 telcos and 70% of Tier 2 telcos in over 190 countries. Its innovative suite of applications provides customers with analytics-driven solutions for roaming and network services, network security, risk management, connectivity testing, and subscriber intelligence. Mobileum operates in a large and growing market as the rise of 5G and IoT accelerate the demand for solutions to manage and maintain complex network ecosystems, ensure consistent quality of service, and minimize fraud and cybersecurity threats.
“We are excited to welcome H.I.G. Capital as a partner as we continue to build the leading global analytics platform for communications service providers,” said Bobby Srinivasan, CEO of Mobileum. “H.I.G. has deep and relevant expertise in the sector with a strong track record. Working together, we intend to further Mobileum’s mission to support telecom partners with market leading solutions and capitalize on the growth in the broader telco software sector, including the significant opportunities presented by 5G and private networks.”
“We are firm believers in the growing importance of software-driven data analytics and intelligence for the telecom industry to support the monetization of telecom connectivity and enable its next wave of growth. Mobileum is the clear market leader in this space with a best-in-class product platform and is well-positioned at the forefront of emerging technology shifts,” said Timur Akazhanov and Nishant Nayyar, Managing Directors at H.I.G. “We are excited to partner with Bobby, the Mobileum team, and Audax to accelerate technology investments and continue growing with our telco partners.”
John Woyton, Head of H.I.G. Technology Partners commented: “We are delighted to invest in Mobileum. This is the first investment made by HTP, H.I.G.’s dedicated private equity technology platform. Mobileum is an ideal fit with our strategy of applying our operational expertise in partnership with management teams to create innovative and high-performance companies that define their industries.”
Kirkland & Ellis LLP served as legal advisor to H.I.G. Jefferies served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to Mobileum.
Mobileum is a leading provider of Telecom analytics solutions for roaming, core network, security, risk management, domestic and international connectivity testing, and customer intelligence. More than 1,000 customers rely on its Active Intelligence platform, which provides advanced analytics solutions, allowing customers to connect deep network and operational intelligence with real-time actions that increase revenue, improve customer experience and reduce costs. Headquartered in Silicon Valley, Mobileum has global offices in Australia, Argentina, Belgium, Brazil, Egypt, Germany, Greece, India, Indonesia, Malaysia, Mexico, Portugal, Singapore, Spain United Arab Emirates, and the UK.
About H.I.G. Capital
H.I.G. is a leading global alternative assets investment firm with over $47 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.