Software Firm at Heart of Audax, HIG Fight Goes Bankrupt (2)

Mobileum Inc., the analytics software company at the center of a legal battle between two private equity firms, has filed for bankruptcy, according to court papers.

An affiliate of the company listed assets of at least $100 million and liabilities of as much as $1 billion in its Chapter 11 bankruptcy petition filed in Texas.

The company has reached a tentative restructuring deal with key creditors, Mobileum said in a statement. It calls for the company to trim $529 million of debt, receive $60 million of new money and exit Chapter 11 within 60 days.

Last year, the company’s ...