[August 15, 2007] Vercuity Acquires Leading Wireless Expense Management Provider, iWave Wireless Tweet GREENWOOD VILLAGE, Colo. --(Business Wire)-- Vercuity, the leader in telecom expense management (TEM), today announced the acquisition of iWave Wireless, the New York based provider of wireless expense management services and solutions. The addition of iWave resources, intellectual property and sales channel strategically advances Vercuity's position and ability to deliver best-in-class products and services ahead of the rapidly expanding mobile market. Terms were not disclosed. iWave's mobile management expertise will complement Vercuity's professional and managed services capabilities, all delivered via Vercuity's new technology platform announced in June. This application uniquely integrates wireless and wireline TEM on a single platform. With the acquisition, Vercuity also gains executive-level industry expertise from iWave's officers now joining Vercuity's management team. Former iWave managing partners Frank Madonna and Robert McGuire will assume the new positions of president and executive vice president, respectively, for Vercuity's newly formed Wireless Services organization. "As we continue diversifying and growing our investment into the wireless market, we are further out in front as a full-service TEM solutions provider," said Vercuity CEO Bob Knowling. "The addition of iWave enhances Vercuity's depth and scale in integrated expense management products and services." "I welcome our new relationship with Vercuity," Madonna said. "It enables us to broaden our value proposition to our customer base, and it reflects our responsiveness to integrated-platform trends in the industry." iWave was founded in December 2002 by Madonna and McGuire to help businesses better manage highly complex processes relative to mergers and acquisitions, procurement, recordkeeping and more. Madonna and McGuire bring more than 50 years of combined telecom experience reducing telecom expenses, increasing employee productivity and ensuring reliable systems performance. About Vercuity Vercuity is a leading provider of telecommunications expense management services (TEM) to the Fortune 1000. Vercuity's clients saved over $5 billion from the $15 billion of contracts negotiated and the company currently has $6.6 billion of telecom services under management. Vercuity, headquartered in Denver, has provided TEM services since 1986. For more information, visit www.vercuity.com. [ Back To TMCnet.com's Homepage ]