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July 2024
Since January, we've reached some important milestones and have built on momentum that will carry us through the remainder of the year. Our team has demonstrated dedication and focus, completing two carve-out transactions, integrating these new businesses into the portfolio, and driving forward new initiatives that have contributed to growth and success.
As we enter the second half of the year, I'd like to reflect on the moments that have defined 2024 so far.
M&A Activity
Carve-out transactions have kept our team busy. In April, we completed the purchase of the Device Management and Service Management Platform Businesses from Nokia. Since then, the acquired assets have been relaunched under the restored brand, Motive.
Lumine also completed the acquisition of the Axyom Cloud Native 5G Core Software & RAN Assets from Casa Systems. These assets were then launched under the new brand, Axyom.Core.
In March, we announced the closure of a $310M USD credit facility. This financing further supports our operating needs and acquisition pipeline. We are thankful to all partners who made this possible.
Eye on AI
Everywhere you look, read, or hear, whether it’s in boardrooms, team strategy sessions, or tradeshow floors, there is a conversation about AI. Today, it feels as though the question of ‘what’ is AI has been answered and we’ve progressed into understanding its practical application and ‘how’ AI will impact our lives.
We are also seeing portfolio companies taking steps towards integrating AI into their business strategy. One example is Lifecycle Software, a BSS and real-time charging provider, who recently unveiled new AI features and Open APIs for its MVNE Platform at the TM Forum’s DTW24 – Ignite global summit.
Looking ahead, we will continue to stay informed about the endless possibilities that AI brings to our industry. We will continue to encourage AI research and development, aiming
to be at the forefront of innovation to deliver cutting-edge solutions that drive our businesses forward.
Culture of Continuous Learning
At Lumine, curiosity and humility are fundamental to our values. We prioritize continuous learning, emphasizing the importance of maintaining curiosity and the humility to seek new knowledge and embrace new ideas.
As a result, learning events play a large role in our educational programming at Lumine. In the spring, we held the ‘Strengthening Summit,’ a summit that unites leaders from recently acquired companies with domain experts for collaborative sessions aimed at enhancing core operations. The summit featured real-life case studies to showcase best practices for growth, provide an opportunity for networking with peers, and establish mentorship across the portfolio.
Most recently, we held ‘Impact,’ a summit for CEOs and C-suite leaders. This summit provided a chance for leaders to network in-person, exchange ideas, and discuss new strategies to empower their teams and drive organizational success. We also invited an expert on AI to discuss the concept of ‘future-casting’ your business as it relates to AI. It was a great event, and I was thankful for the opportunity to spend quality time with these business leaders.
The Future is Bright
As we look towards the second half of the year, we will continue to focus on building a network of communications and media software companies and an ecosystem in which they can thrive. We will continue to stay close to AI and the opportunities or challenges it may bring to our companies, teams, and customers.
As always, I am appreciative and humbled by our incredible team at Lumine and across our portfolio companies for their hard-work, creativity, and dedication. Thank you all for your hard work so far this year.
For business owners, founders, or organizations interested in learning more about Lumine Group, we are always open to a conversation. Please feel free to connect.
All the best in the second half of 2024!
Onwards & upwards,
David Nyland