Vodafone grabs expense firms
Vodafone’s enterprise division has snapped up two telecom expense management (TEM) firms in a move it claims makes it a leading player in the field.
The firm’s Global Enterprise business will open up opportunities in the US, UK, and Singapore with the purchase of Australia-based Quickcomm, while service provider TnT Expense Management adds Germany and France to the list.
Software firm Quickcomm’s gross asset value is $6.9 million (€4.9 million) and TnT $2.8 million, Vodafone revealed.
Vodafone Global Enterprise chief Nick Jeffery said the acquisitions will offer customers “greater visibility and control of their fixed and mobile spend,” noting that reducing costs is top of all its subscriber’s wish lists.