Leader in Telecom Expense Management Continues Expansion in Response

to Market Growth; Transaction Financing Led by Investor Growth Capital

(IGC)

ORANGE, Conn.–(EMWNews)–Tangoe, Inc., a leading global provider of enterprise communications

lifecycle management software and technology-enabled services, today

announced that it has completed a transaction with Information

Strategies Group, Inc. (ISG), a Parsippany, New Jersey-based provider of

telecommunications and IT expense processing services and technologies.

ISG will operate as a division of Tangoe. With the addition of ISG,

Tangoe provides technology-based software and service solutions that

enable global organizations to manage and control communications and IT

technology resources and related expenditures, significantly reducing

their costs. The transaction was completed on July 28, 2008.

Tangoe now has approximately 300 clients utilizing the company’s

technologies and technology-enabled services to better manage the entire

lifecycle of their fixed, mobile, and network communications.

Operational integration of the two companies is underway led by Tangoe

founder, President and CEO Al Subbloie. Former ISG managing directors

George Germano and Brian Leigh will continue their involvement in the

newly formed division of Tangoe as senior vice president of billing

solutions and senior vice president of business development. All current

Tangoe and ISG locations will remain in full operation in support of the

new organization.

ISG’s call accounting product and billing

chargeback and allocations software and services practice further extend

the depth and breadth of Tangoe’s established

software and technology-enabled managed services. The exceptional

management expertise in billing and processes that ISG has developed

over the past decade, as well as their experience in international and

domestic communications cost processing, further enhances Tangoe’s

award-winning CommCare managed services offerings. As a result of the

combination, ISG’s existing client base of IT

and telecom invoice processing customers will also gain access to Tangoe’s

suite of wireless lifecycle management solutions while retaining their

current solutions supported by current account management and support

teams. The combination of Tangoe and ISG presents new telecom lifecycle

management solution opportunities to the marketplace and further

establishes Tangoe as a leader in the technology enabled managed

services/communications lifecycle management market.

“With this transaction, Tangoe has enhanced

its position as a premier provider of technology-based TEM solutions and

services,” said Al Subbloie. “The

synergies between Tangoe and ISG are such that combining forces was a

natural fit. Blending our expertise and product capabilities will enable

us to extend those capabilities to new and growing markets. The expanded

company’s deep knowledge and expertise in

global communications, IT billing, invoice processing, billing

chargebacks, inventory management, and provisioning will help us provide

even greater services and solutions to our clients.”

The transaction funding was led by Investor Growth Capital Limited

(IGC), a wholly owned venture capital arm of Investor AB, the largest

listed industrial holding company in the Nordic region. IGC joins other

major Tangoe investors which include Edison Venture Funds, Sevin Rosen

Funds, North Atlantic Capital, and Axiom Venture Funds. In conjunction

with the financing, Noah Walley from IGC has been appointed to Tangoe’s

Board of Directors. “We are very pleased to

add IGC to Tangoe’s already strong board and

investor base,” said Al Subbloie. “We

were attracted by their long track record of creating sector-leading

companies as well as their patient-capital approach. As we look to

strengthen our presence outside of North America we believe their

presence on the ground in Europe and Asia as well as their wider global

network will be of tremendous assistance.”

The transaction was also supported by ORIX Venture Finance, a subsidiary

of ORIX Finance, a multi-billion dollar finance organization. ORIX

Venture Finance is a leading provider of debt financing to

venture-backed companies. “At ORIX, we look

to support growing companies backed by strong, experienced management

teams and knowledgeable sponsors. Tangoe has all of these aspects in

place that will help the company continue on its path as a leader in

telecom expense management. We were delighted to move quickly alongside

IGC to support this acquisition,” said

William D. Bishop of ORIX Venture Finance.

About Tangoe

Tangoe, Inc., a global leader in telecommunications lifecycle solutions,

provides software and technology-driven services that enable global

organizations to procure, manage, and control their fixed, mobile, and

converged communications assets and their costs. Tangoe’s software and

service solutions are built upon patented technologies that enable

dramatic cost reductions and process efficiencies, which significantly

contribute to organizational profitability. Global 2000 organizations

worldwide depend on Tangoe solutions to more effectively manage their

telecommunications processes. In 2007, Tangoe was named No. 149 on the

Entrepreneur Hot 500 ranking of America’s fastest growing companies and

was named the fifth fastest growing Connecticut technology company in

the Deloitte Technology Fast 50. Tangoe has offices in Connecticut,

Texas, New York and New Jersey. Tangoe provides solutions in the United

States through direct and partner sales channels, and internationally

through a global network of certified business partners.

Additional information about Tangoe, its CommCare services, patented

technologies, and business partners can be found at www.tangoe.com,

or requested via e-mail at [email protected],

or by calling (203) 859.9300.

Tangoe is a registered trademark and CommCare is a trademark of Tangoe,

Inc.

About Investor Growth Capital

Investor Growth Capital (IGC) is the wholly-owned venture capital arm of

Investor AB, the largest listed industrial holding company in the Nordic

region. IGC was formed in the mid-1990s to invest in high-quality,

growth-oriented companies, primarily in the IT and Healthcare

industries. Today its 30 investment professionals are developing a

portfolio whose value exceeds $800 million from offices located in New

York, Menlo Park, Stockholm, Hong Kong, Tokyo and Beijing. Investor AB

is a leading shareholder in a number of European multinational

corporations, including ABB, Astra Zeneca, Atlas Copco, Electrolux,

Ericsson and SEB. For almost a century Investor AB’s business philosophy

has been to build best-in-class companies in sectors where the group has

strong knowledge and a networking advantage. IGC shares that approach

and benefits from Investor AB’s extensive global network of companies

and senior managers. To learn more visit http://www.investorgrowthcapital.com.

About ORIX Venture Finance

ORIX Venture Finance provides enterprise financing to mid- and

late-stage venture capital-backed companies via acquisition financing,

expansion capital, working capital term loans and credit lines, and

equity co-investments. The Venture Finance team, staffed with highly

seasoned venture lending professionals, meets the challenges facing

growth companies by structuring flexible financing packages ranging from

$5 MM to $50 MM that meet growing companies’

unique needs. We are a stable and reliable finance company dedicated to

supporting the growth and success of professionally backed companies

with a range of debt products. For more information, visit www.orixventurefinance.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve

substantial uncertainties and risks. These forward-looking statements

are based upon our current expectations, estimates and projections about

our business and our industry, and that reflect our beliefs and

assumptions based upon information available to us at the date of this

letter. We caution readers that forward-looking statements are

predictions based on our current expectations about future events. These

forward-looking statements are not guarantees of future performance and

are subject to risks, uncertainties and assumptions that are difficult

to predict. Our actual results, performance or achievements could differ

materially from those expressed or implied by the forward-looking

statements as a result of a number of factors, including but not limited

to, changes in: economic conditions generally, changes in technology,

legislative or regulatory changes that affect us, the availability of

working capital, changes in costs and the availability of goods and

services, the introduction of competing products, changes in our

operating strategy or development plans, our ability to attract and

retain qualified personnel, and changes in our acquisition and capital

expenditure plans.

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