Riverside Partners Acquires Calero Software in Partnership with Management

Boston, MA, September 13, 2017 -- Riverside Partners, LLC, a Boston-based private equity firm,
announced today that it has acquired Calero Software LLC (“Calero” or the “Company”) in partnership
with members of management. Calero is a leading provider of Communications Lifecycle Management
(CLM) software and managed services including Telecom Expense Management (TEM), Managed
Mobility Services (MMS) and Usage Management. Calero manages more than $6 billion of annual
telecom, mobility and cloud spend for over 3,000 customers operating in more than 40 countries
globally. Calero also provides managed mobility services for more than 400,000 mobile devices.
Financial terms of the transaction were not disclosed.

Calero’s proprietary technology automates the management of voice, mobile, data and unified
communications devices for Fortune 2000 companies. The Company’s software and managed service
solutions help large enterprises realize meaningful savings by managing the myriad of
telecommunications devices, contracts, invoices and spending across their operations. Calero’s
solutions, sold under the Calero VeraSMART and Calero PINNACLE brand names, help customers reduce
complexity and waste and increase efficiency. The Company’s customers include leading financial and
business service institutions, healthcare providers, higher education institutions, government agencies
and energy firms.

“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. The Company is also considered the highest quality
managed service provider to large, blue-chip enterprises for managing spend on critical IT, telecom, and
mobile assets.”