Lumine Group Acquires Synchronoss’ Messaging & NetworkX Business Units
01 Noviembre 2023 - 6:00AM
Lumine Group Inc. (“Lumine Group” or “the Company”) (TSXV: LMN), a
global buy-and-hold forever acquirer of communications and media
software businesses, today announced that it has completed the
acquisition of the Messaging & NetworkX business units from
Synchronoss (Nasdaq: SNCR). This will mark Lumine Group’s ninth
divestiture transaction in the communications and media space.
Messaging and NetworkX are primarily the result of three
previous acquisitions by Synchronoss, namely SPATIALinfo,
Razorsight, and Openwave Messaging. Following the acquisition,
Lumine Group will restore the brands to operate as three autonomous
business units.
Synchronoss, founded in 2000, is dedicated to serving global
communications service providers, initially with business process
optimization services and service activation solutions. Over recent
years, Synchronoss has embraced a cloud-first strategy, resulting
in growth within their cloud business as well as driving global
customer expansion.
“Lumine Group is an experienced acquirer of corporate
divestitures and well positioned to support the future ambitions of
these businesses,” said Jeff Miller, CEO of Synchronoss. “This
acquisition helps ensure a smooth transition for our employees and
valued customers, while sharpening Synchronoss’ operational focus
and bolstering our market presence.”
Tony Garcia, Group President at Lumine Group, commented: “We are
thrilled to welcome these businesses from Synchronoss to Lumine
Group, complementing our expanding ecosystem of communications and
media B/OSS businesses. In line with Lumine Group’s approach to
operating companies autonomously, these business units will be
relaunched with their own, unique brands to clearly distinguish
their product offerings and serve their respective market domains.
We look forward to the opportunities for learning and growth that
lie ahead.”
David Nyland, CEO of Lumine Group, added: “This acquisition
reinforces Lumine Group’s mission to build a leading network of
communications and media software companies. These businesses bring
with them an experienced leadership team and a strong, global
customer network we look forward to serving. As with every
acquisition, our first priority is to enable a seamless transition
for both customers and employees as we welcome these businesses to
Lumine Group.”
Forward Looking Statements
Certain statements herein may be “forward looking” statements
that involve known and unknown risks, uncertainties and other
factors that may cause the actual events to be materially different
from any future events expressed or implied by such forward
-looking statements. Words such as “may”, “will”, “expect”,
“believe”, “plan”, “intend”, “should”, “anticipate” and other
similar terminology are intended to identify forward looking
statements. Forward looking statements in this press release
include Lumine Group’s intentions vis-a-vis its acquisition of
business assets from Synchronoss. Such forward looking statements
involve significant risks and uncertainties, should not be read as
guarantees of future results, and will not necessarily be accurate
indications of whether or not such results will be achieved, or
when such results will be achieved. A number of factors could cause
actual results to vary significantly from the results discussed in
the forward looking statements. These forward looking statements
reflect current assumptions and expectations regarding future
events and are made as of the date hereof and Lumine Group assumes
no obligation, except as required by law, to update any forward
looking statements to reflect new events or circumstances.
About Synchronoss Technologies
Synchronoss Technologies (Nasdaq: SNCR) builds software that
empowers companies around the world to connect with their
subscribers in trusted and meaningful ways. The company’s
collection of products helps streamline networks, simplify
onboarding, and engage subscribers to unleash new revenue streams,
reduce costs and increase speed to market. Hundreds of millions of
subscribers trust Synchronoss products to stay in sync with the
people, services, and content they love. Learn more
at www.synchronoss.com.
About Lumine Group
Lumine Group (TSXV: LMN) acquires, strengthens, and grows
vertical market software businesses in the Communications and Media
industry. Learn more at www.luminegroup.com.
Lumine Group Media Relations ContactErini
AndriopoulosDirector of Marketing, Lumine
Grouperini.andriopoulos@luminegroup.com
Synchronoss Media Relations
Contact:Domenick
CileaSpringboarddcilea@springboardpr.com
Synchronoss Investor Relations
Contact:Matt Glover and Tom ColtonGateway Group,
Inc.SNCR@gateway-grp.com
Synchronoss Technologies (NASDAQ:SNCR)
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