Riverside Partners Acquires Calero Software in Partnership with Management

Riverside Partners, LLC, a Boston-based private equity firm, announced today that it has acquired Calero Software, in partnership with members of management. Financial terms of the transaction were not disclosed.

Calero is a leading provider of communications lifecycle management software and managed services including telecom expense management, managed mobility services and usage management. Calero manages in excess of $6 billion of annual telecom, mobility and cloud spend for more than 3,000 customers operating in 40 countries, and it also provides managed mobility services for more than 400,000 mobile devices.

“Our investment in Calero fits squarely in line with Riverside Partners’ strategic goal of identifying growth companies that can benefit from our industry knowledge, operational expertise and liquidity to accelerate their growth objectives, both organically and through strategic acquisitions,” commented Steven F. Kaplan, general partner at Riverside Partners. “During the past three years, Calero has successfully executed a roll-up and integration strategy to create a leading platform of scale, and today the company has a reputation for offering the most advanced technology in the industry based on its recently redesigned and intuitive user interface.”