Tangoe Announces the Acquisition of ProfitLine for $23.5M

Tangoe, Inc. (NASDAQ:

) announced that it has acquired privately held ProfitLine, Inc., a global provider of telecom expense and mobility management services in a transaction that closed today, December 19, 2011. Under the terms of the acquisition agreement, Tangoe will pay approximately $23.5 million in cash, $14.5 million of which was paid upon closing, $4.5 million of which will be paid in 12 months, and $4.5 million of which will be paid in 18 months.