Lumine Group to Acquire Mobile Network Solutions Business from Concentrix
TORONTO, July 02, 2021 (GLOBE NEWSWIRE) — Lumine Group (“Lumine”), a division of Volaris Group focused in the communications and media vertical, today announced that it has agreed to acquire the mobile network solutions business from Concentrix. The business which includes software capabilities in the areas of Call Completion, Messaging and Online Charging for communications services providers worldwide, will be marketed under the newly created brand “NetEngage” and will operate as a fully autonomous Lumine business. NetEngage is Lumine’s 21st acquisition, further establishing Lumine’s position as a “carve-out” specialist and leading global acquirer of communications and media software businesses. Closing of the transaction is expected within 30 days subject to customary closing conditions.
Tracing back to the early 1990’s, the Concentrix mobile solution assets originated initially from Ferranti Voice Systems in the UK and subsequently, through various acquisitions became owned by Convergys in 2008, who were later acquired by Concentrix.
“After exploring a divestiture option with Lumine and other alternatives, we decided that Lumine is by far the best home for the mobile solutions business. Lumine’s experience with corporate divestitures gave us speed and certainty of transaction close, and they were able to provide the appropriate focus and investments to ensure that customer and employee stakeholders are protected for the long-term,” said Philip Cassidy, EVP of Corporate Strategy, Concentrix. “We also liked their practice of ‘buy and hold forever’ and allowing NetEngage to create its own new independent corporate identity with which to go-to-market moving-forward.”
Today, NetEngage serves customers in Europe, Africa, and the Middle East, including NetOne (Zimbabwe), Virgin/O2 (UK), Africell (Uganda, DRC, Gambia, and Sierra Leone) and STC (Saudi Arabia).
“We are excited to acquire a broad and proven software suite with strong heritage in the communications vertical plus long-term customer relationships and contracts, which will complement our existing software ecosystem,” said David Sharpley, Group Leader at Lumine. “We look forward to welcoming both NetEngage customers and employees to the Lumine family.”
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.
Concentrix Corporation (Nasdaq: CNXC), is a leading global provider of customer experience (CX) solutions and technology, improving business performance for some of the world’s best brands including over 100 Fortune Global 500 clients and over 115 global disruptor clients. Every day, from more than 40 countries and across 6 continents, our staff delivers next generation customer experience and helps companies better connect with their customers. We create better business outcomes and help differentiate our clients through technology, design, data, process, and people. Concentrix provides services to clients in our key industry verticals: technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Visit concentrix.com to learn more.
Director of Marketing, Lumine Group