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Entering the new year, it is with great appreciation and pride that I take a moment to reflect on Lumine’s journey in 2023. Looking back to January of last year, I am truly humbled by the incredible achievements of our team. Together, we reached milestones and paved the way for an exciting future.
We began the year working towards completing the transaction of WideOrbit, which officially closed in February. In conjunction with this, Lumine Group completed a spin-out from Constellation Software Inc. to operate as an independent public company.
On March 24, Lumine shares began trading on the Toronto Stock Venture Exchange under the symbol LMN. On this day, I, alongside Lumine team members and members of the Lumine Board, had the honor of ringing in the market opening.
Amidst the journey to go-public, our team completed the acquisition of NetNumbers' Titan.ium, a company specializing in signaling, routing, subscriber data management, and security. Titan.ium has had an impressive first year with Lumine – introducing over 100 new features and enhancements across their product portfolio, welcoming new customers around the world, and participating in global industry events.
One of those global industry events was Mobile World Congress, where Lumine Group team members also attended and had the opportunity to reconnect with our network, our portfolio companies, and be on-the-ground exploring the latest industry trends. We eagerly anticipate our return to Mobile World Congress next month and welcome the opportunity to meet with you there. If you're interested in connecting, book a meeting with us.
Regarding industry events, our team also attended NAB Show in Las Vegas, IBC in Amsterdam, AfricaCom in Cape Town, and Cable-Tec Expo in Denver over the course of the year. Looking ahead to 2024, we will continue to attend industry events around the world. These events provide an invaluable opportunity for face-to-face interactions with all of you, ensuring our continuous alignment with industry trends.
April saw our first in-person Illuminate, Lumine Group's largest learning event for senior leaders across our portfolio of companies. Taking place in Bangkok, Thailand, Illuminate brought together 220+ CEOs, department heads, and emerging leaders, delivering a powerful experience that underscored the significance of in-person connections. The event celebrated the scale and international reach of our ecosystem while showcasing the wealth of operational knowledge within our talented teams. I encourage you to dive deeper into the Illuminate experience here.
In November, we announced the acquisition of Synchronoss Technologies' Messaging & NetworkX business units. These businesses bring experienced leadership teams, a robust global customer network, and enhance our expanding portfolio of communications and media B/OSS businesses.
With Synchronoss Technologies' carve-out transaction, we highlight our proficiency in standing up independent businesses. Following the acquisition, we are actively developing the acquired assets into three distinct business units—SpatialNetworX, Razorflow, and Openwave—to clearly distinguish their product offerings and serve their respective market domains. I look forward to seeing this develop, and congratulations to all for the work completed so far.
In the final days of 2023, we announced that we had entered into an agreement to acquire the Device Management and Service Management Platform businesses from Nokia. This transaction, expected to close in Q1, will mark Lumine’s second carve-out transaction with Nokia.
The announcement of several carve-out transactions this year, working with companies like NetNumber, Synchronoss and Nokia, reinforces our ability to provide an optimal home for divested assets. We appreciate the relationships formed throughout these transactions and look forward to shaping a new chapter for the companies, their employees, and customers.
In 2023, our commitment and focus showed us that dedication can turn ambitious goals into reality. Every employee within Lumine Group and our portfolio companies drives a future toward a stronger, more connected world for our team, clients, and partners. It is your collective efforts that have propelled us to where we stand today, and I am excited about the opportunities that await us in the future. We are just getting started.
If you're considering a new chapter for your company and are interested in Lumine's journey as we embark on a new year, now is a great time to connect.
Wishing you the best in 2024.
Onwards & upwards,
David Nyland
Founder & CEO
Lumine Group