Transaction Expands Customer Value Management Portfolio with Innovative Loyalty Program Technology and New European Customer Accounts
Evolving Systems, a leader in real-time analytics, customer acquisition and customer value management solutions and services, has announced that it has completed the acquisition of the business operating units of Lumata Holdings Ltd. (Lumata).
Lumata is a leading global provider of real-time, next generation loyalty and customer lifecycle management software and services that help businesses gain value from their customer data for relevant and contextual insights and actions of value to both customers and enterprises. Its customers include mobile operators like Orange, Telefonica and other Tier-1 and emerging operators in Europe and around the world. The acquisition is expected to be accretive to Evolving Systems’ operations once the integration of the business is completed by year-end 2017.
Thomas Thekkethala, CEO of Evolving Systems, said, “We are excited to have completed this acquisition as it further reinforces our commitment to the customer acquisition and customer value management (CVM) domains that we built through the acquisitions of Sixth Sense Media and more recently, Business Logic Systems. Lumata’s value lies in its patented technology, industry expertise and strong customer relationships, in particular, those across Western Europe. Led by the explosive growth in mobile, the next generation of CVM is moving beyond traditional CRM and points based loyalty systems to highly personalized and contextual, real-time, omnichannel consumer engagement in multiple verticals including telecom, finance, and retail.”
The acquisition of Lumata is another milestone in Evolving Systems’ transformation from its position as a market leader in customer acquisition, development and retention serving the telecommunication industry. Through the growth of its CVM technology and portfolio, Evolving Systems is positioned to be a next-generation mobile consumer engagement solutions accelerator across multiple industry verticals.
Currently, Evolving Systems provides software and services for connected mobile devices to over 90 network operators in 66 countries worldwide. The company’s portfolio includes market-leading solutions and services for real-time analytics, customer acquisition, and customer value management.