Lumine Group Acquires Neural Technologies
TORONTO, June 01, 2021 (GLOBE NEWSWIRE) — Lumine Group (“Lumine”), a division of Volaris Group focused in the communications and media vertical, today announced that it has completed the acquisition of Neural Technologies Ltd (“Neural”), a provider of modular revenue protection, signalling, machine learning (ML) and artificial intelligence (AI) software for telecom operators. Its revenue assurance suite includes capabilities for fraud management, revenue assurance, credit-risk management, business assurance, and anti-money laundering. Its ML and AI capabilities assist telecom operators with data integration and customer engagement. Neural is Lumine’s 19th acquisition, further establishing Lumine’s position as a leading global acquirer of communications and media software businesses.
Founded in 1991 in England, Neural’s initial years were spent developing and patenting its Neural chip and AI modelling capabilities. By 2000, Neural was entrenched in the telecoms industry delivering its fraud detection and prevention solutions to tier 1 telecom operators. During the subsequent two decades, Neural acquired both technology and significant global market presence through organic and inorganic growth resulting in a significant presence in South East Asia and expansion in Western Europe.
“After building up our capabilities and brand over 30 years, we were ready to join an ecosystem that would allow us to scale to the next level. It was important that we selected a partner that valued Neural’s innovation, brand, and most importantly its true assets, customers and staff,” said David Toms, CEO and Chairman of the Board.
“Neural first met Lumine Group at CommunicAsia in 2017. At this time, we were intrigued by the value proposition and unique outlook on buy-and-holding forever, allowing those acquired businesses to define and achieve their mission through the best practices, ecosystem and financial backing that Lumine brings to every business,” added Ang Liang, Neural’s Chief Operations Officer.
“We are excited to add revenue protection, signalling and ML/AI capabilities to our portfolio, complementing our existing businesses while providing further mission-critical and high value capabilities to our global tier 1 ecosystem of customers and partners,” said David Nyland, President of Lumine.
About Lumine Group
Lumine Group is a leading global acquirer of communications & media software businesses. Lumine empowers businesses to grow by providing an ecosystem with access to a network of global, like-minded professionals, customers, and partners. Lumine Group is a division within Volaris Group, a subsidiary of Constellation Software Inc. (TSX:CSU). Learn more at www.luminegroup.com and via LinkedIn.
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Volaris is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions. Learn more at www.volarisgroup.com.
Director of Marketing, Lumine Group