N.J.-based tech expense management company acquires MOBI

Tangoe, a technology expense management company based in Parsippany, announced Wednesday it has acquired MOBI, a managed mobility services company.

The acquisition, Tangoe said, will manage more than $40 billion in annual technology spend and 10 million connected devices.

“MOBI’s technology supports our overarching goal to help customers work smarter,” Tangoe CEO Bob Irwin said. “This combination will give Tangoe customers the immediate benefit of access to the most powerful MMS solution on the market and provide MOBI clients access to our global TEM capabilities, deep expertise and worldwide coverage. We’re thinking about what the TEM and MMS market of the future will be — and we’re building it now.”

The new company will also enhance telecom, mobility and could assets and programs for its clients, it said.

“This is great news for the industry,” AOTMP CEO Tim Lybrook said. “I am excited for both organizations to come together. For MOBI, this deal leverages their mobility expertise and wraps it into a much larger global organization. For Tangoe, it accelerates their mobility position in the market and brings a strong customer base.”

Under terms of the deal, Josh Garrett, MOBI president and co-founder, will join Tangoe as president of MMS and report to Irwin. Scott Kraege, MOBI CEO and co-founder, will join Tangoe’s board of directors and sit in an advisory role. MOBI’s offices in Indianapolis will remain and become the new headquarters for the combined company’s MMS business.

“This is a great opportunity to bring MOBI’s award-winning solutions to the global marketplace,” Kraege said. “By teaming up with the global TEM leader, we can accelerate investment in our solutions and bring new functionality and enhancements to market more quickly. Enterprise mobility programs can become overwhelming for organizations to manage, especially on a global scale, and today, we can now offer a solution that not only meets—but exceeds — customer needs and expectations.”