A change of ownership at MycomOSI will give the company access more capital to drive its ongoing transition to providing assurance, analytics and automation solutions on a cloud-based, SaaS model, the company said.
MycomOSI has been acquired by Inflexion Private Equity, exiting from previous backer Clearlake Capital.
Over recent years MycomOSI has moved its model to deliver cloud-based solutions via a subscription-based business model, believing that the industry is starting a shift to a SaaS model for assurance, analytics and automation solutions. That shift is being driven by the need to create more flexibility and automation in network operations as operators seek to transform their own business and operating models. The company is one of a group that are seeking to provide the capabilities for carriers to automate network operations, ultimately creating closed loop analytics, assurance and orchestration. Creating these systems as decomposed, cloud-native, instances that can scale in and out, and be deployed as required depending on application location and usage, is a challenge to an industry that has been used to creating monolithic, siloed software packages.
In an email to TMN, Ian Meakin, Global Head of Marketing, MycomOSI, said, “[The acquisition] allows us to accelerate our growth plans with new capital investment, within our existing operating structure with the same management team.”
Meakin said that this acceleration would be around “our existing product roadmap, market reach, partners and customer acquisition plans”. He added, “We want to capitalise on our leadership position here. The added investment also allows us to make further strategic choices such as targeting new markets like Enterprise or adding significant new offerings to our product and solution portfolio.”
Behdad Eghbali, Co-Founder and Managing Partner, Clearlake, said he had been glad to sponsor the company through its acquisition of OSI and to drive its transition towards a subscription-based, cloud model.
Simon Turner, Managing Partner at Inflexion, said, “The team at MYCOM OSI have built up an excellent global client base and re-architected their technology and the company to address the global trend of digital transformation that is underway. With our support, the firm plans to continue to evolve their offering and expand their global footprint.”