In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tangoe Inc. (NASDAQ:TNGO) reported that Clearlake Capital Partners Iv Finance, L.p. has picked up 9,866,848 of common stock as of 2017-01-03.
The acquisition brings the aggregate amount owned by Clearlake Capital Partners Iv Finance, L.p. to a total of 9,866,848 representing a 25.02% stake in the company.
For those not familiar with the company, Tangoe, Inc. is a provider of information technology (IT) and Telecom Expense Management (TEM) software and related services. The Company offers its services to a range of global enterprises and service providers. Its products and solutions include mobility, telecom, cloud, IT expense, strategic consulting and mobility as a service (MaaS). Its mobility solution includes expense management; procurement, logistics and activation; usage management; enterprise mobility; mobile support, and financial management. Its IT expense solution includes expense management, inventory and asset management, usage management and financial management.
A glance at Tangoe Inc. (NASDAQ:TNGO)’s key stats reveals a current market capitalization of 297.14 million based on 39.43 million shares outstanding and a price at last close of $8.32 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-04-13, Clearlake picked up 1,202,666 at a purchase price of $7.25. This brings their total holding to 7,492,797 as of the date of the filing.
On the sell side, the most recent transaction saw Clearlake unload 1,590,000 shares at a sale price of $8.00. This brings their total holding to 5,902,797.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Tangoe Inc. (NASDAQ:TNGO) as things move forward to see if its progress aligns with these transactions.
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