Periscope Equity Invests in Mobile Solutions, a Leading Managed Mobility Services Provider
Partnership Aims to Further Expand Product Offering and Go-To-Market Strategy
CHICAGO, October 22, 2019 (Newswire.com) - Periscope Equity LLC (“Periscope”) today announced its investment in Mobile Solutions, an award-winning Managed Mobility Services (“MMS”) provider and the fourth platform investment of Periscope Equity I, L.P.
Mobile Solutions leverages its SaaS mobility management platform, MAX, to manage all aspects of its customer mobility spend, security and lifecycle of devices. The Company’s product suite allows organizations to reduce mobility spend, providing a tangible ROI while also streamlining internal workflows offering insights from a single portal. The increasing complexity and volume of mobile deployments along with rising cybersecurity threats and access concerns are driving growing demand for MMS across all business sizes; Mobile Solutions provides market-leading tools to address these commercial pain points.
Periscope invested in partnership with Jim Johnson, co-founder of Mobile Solutions, who will continue as CEO. Periscope Operating Advisor Michael Sterl, who was instrumental to Periscope’s MMS thesis development ahead of this investment, will join the management team as President. In his new role, Sterl will focus on growth initiatives across sales, technology and new product extensions.
“We invest in people first and have been incredibly impressed with the team and culture of Mobile Solutions,” said Eric Hinkle, Principal at Periscope Equity. “We are excited to partner with Jim and Michael on this next phase of growth for the Company with a focus on expanding our go-to-market strategy and bringing new products to market.”
“This is truly the next chapter in our story. From the beginning, we have set out to redefine the mobility management space and through this partnership, we will provide enhanced offerings and further automation to provide the greatest value to our clients. It became readily apparent that Michael and Periscope brought a unique perspective and deep understanding of the market. We are grateful to join with a partner who shares a common vision on the opportunity ahead,” said Jim Johnson.
Michael Sterl brings a wealth of IT services experience and knowledge of the partner community to the business. “The channel is craving a smarter approach to mobile device management and security, given the evolving business environment," said Sterl. "From our very first conversation with Jim, we had a shared vision and saw that the Company’s MAX platform put the business in a unique position to continue to innovate and capture market share. We plan to aggressively ramp up our partnership and referral network, which will significantly broaden our customer reach.”
Steve Jarmel, Partner at Periscope Equity, will serve as Chairman of Mobile Solutions. “Early on, we realized that Mobile Solutions’ value proposition and Jim’s vision of delivering tangible ROI savings by reducing mobility management complexity and mobile security risk made it a truly unique asset in the marketplace,” said Jarmel. “Cybersecurity is a growing concern for every company, especially within the mobility space and the team Jim has built is poised for its next phase of rapid growth.”
Mobile Solutions aligns with the Periscope mandate of backing founder-owned, highly recurring and mission-critical, technology-enabled business services companies. Further, Periscope will utilize its expertise and network to leverage Mobile Solutions’ data to accelerate growth.
D.A. Davidson served as the exclusive financial advisor to Mobile Solutions for this transaction.
About Mobile Solutions
Mobile Solutions is a SaaS company that provides full life-cycle Managed Mobility Services including procurement, staging and kitting, real-time expense management, business analytics and reporting, dedicated account management and optimization, 24x7 U.S.-based support, Unified Endpoint Management, and device reclamation services. We’ve made it simple for our clients to manage corporate-liable devices while also automating the management of mobile costs, assets, usage, plan changes, invoice processing, and reporting. With MAX, our cloud-based portal, we provide one, easy-to-use technology interface with the same user experience. Click here to check out our offerings.
About Periscope Equity LLC
Periscope Equity is a Chicago-based private equity firm focused on investments in technology-enabled business services companies across five key verticals: healthcare services, marketing services, outsourcing services, security services and software. Periscope specifically targets founder-owned companies with mission-critical products and service offerings, a history of sustainable profitability and known avenues to accelerate growth. In alignment with proven management teams, Periscope provides strategic, operational and commercial expertise to drive superior investment returns.
For more information, please visit http://www.periscopeequity.com.
Source: Periscope Equity