Why Tangoe Shares Danced Higher

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Tangoe have danced higher today, up by 13% at the high, after the company announced a partnership with software giant SAP .

So what: The two companies have inked a software development cooperation agreement, which will result in the integration of Tangoe's Mobile TEM software suite with SAP's mobile security offerings. Tangoe and SAP will develop interoperability between SAP's mobile device management software and Tangoe's logistics specialties.

Now what: SAP mobile exec Sanjay Poonen said that companies must take a "holistic view" of mobile ecosystems nowadays, which is why it is partnering with Tangoe's complementary services. Tangoe CEO Al Subbloie expressed that this could just be the beginning, saying the partnership could potentially become "a multi-phased relationship." Shares have given up some of their gains, in part due to broader market weakness.

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The article Why Tangoe Shares Danced Higher originally appeared on Fool.com.

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