Lumine Group , a division of Volaris Group focused in the communications and media vertical, 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.
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Tracing back to the early 1990’s, the Concentrix mobile solution assets originated initially from Ferranti Voice Systems in the UK and subsequently, through vfrious 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.”
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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.”