Essential Business

WeDo in Mobileum sale

 In News

WeDo Technologies, a Sonaecom company, is to be sold to the US telecommunications company Mobileum.

Mobileum Inc. designs and develops big data analytics solutions. The Company develops solutions for GSM and CDMA domains, as well as mobile financial services platform allowing bill payment, mobile banking, and money transfers. Mobileum serves customers worldwide. It is based in California, just minutes away from the Apple headquarters in Cupertino.
The US company is said to be prepared to buy WeDo for $70 million. Mobileum has around 180 staff and essentially provides two types of services: big data analytics solutions for the telecommunications sector and mobile technology services
for the financial side of the business, such as invoice payment solutions, digital banking and bank transfers. It used to be called Roamware.
According to information on the platform Crunchbase, Mobileum is held by Audax, a venture capital fund which manages around US$16Bn in assets and which bought the company in November 2016.
Like WeDo, Mobileum is still led by one of its founders: its CEO Bobby Srinivasan. It is not clear what Mobileum’s strategy is in purchasing WeDo Technologies from Sonaecom and so far none of the three companies involved have answered questions from the local Portuguese press.
But the purchase could give WeDo greater growth margin and investment to leverage its current investments and eventually help it to explore new business opportunities in other areas.
Since WeDo has a strong component in data analysis, particularly in telecommunications, as well as Internet of Things and 5G risk management services, it is not hard to imagine the kind of synergies that could be created from a merger between the Portuguese tech company and Mobileum.


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