January 2025
As we reflect on 2024, one thing is clear: our people are the driving force behind Lumine. Every initiative, milestone, and success this year was fueled by their dedication, ingenuity, and resilience. Their intensity drives positive change within our portfolio and the communications and media industry we serve. As we prepare for the year ahead, we are filled with gratitude and a renewed sense of purpose.
Our Year in Review is more than a summary of achievements; it reflects the collective journey we undertook together. The moments we’ve shared this year have inspired us and underscored the power of collaboration, innovation, and leadership. As we close 2024 and turn our gaze to 2025, here are some milestones and moments that defined our year.
Industry Events
In 2024, we witnessed the growth of several key trends in the dynamic communications and media landscape. The rise of 5G adoption, the increasing importance of AI-driven analytics, and the shift towards cloud-native solutions were particularly prominent. These developments highlight the rapid evolution of the industry and the growing need for agility and innovation among telco and media software companies.
We engaged with the industry by attending Mobile World Congress (MWC), one of the industry’s largest and most influential shows. MWC provides an incredible platform to reconnect with our network, explore emerging trends, and share insights into the future of the industry. Ahead of the 2024 show, members of our M&A team shared insights around key trends—stay tuned for 2025’s predictions. These conversations were both energizing and thought-provoking, reminding us of connectivity’s potential to shape the world.
Looking ahead to MWC 2025, we’re eager to build on these discussions. For those attending MWC in March, we are planning dedicated spaces for meetings—whether to catch up with familiar faces or build new relationships. If you would like to connect, we encourage you to reach out here.
In addition to MWC, our team participates in various other industry events, such as NAB Show, IBC, and AfricaCom. We believe it is crucial to stay connected with the latest developments in the industry, whether exploring specific areas like attending the Contact Centre Expo or engaging regionally at events like AfricaCom. Looking ahead to 2025, we are committed to prioritizing opportunities to meet with industry experts and gain insights directly from the ground.
M&A Activity
In 2024, carve-out transactions 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. This is our second carve-out transaction with Nokia.
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 supports our operating needs and acquisition pipeline. We are thankful to all partners who made this possible.
These milestones highlight our commitment to identifying and nurturing opportunities that align with Lumine’s vision for the future.
Learning Events: People Development
At Lumine, we believe our people are our greatest strength. Empowering individuals to reach their full potential is a strategic imperative. Without strong leaders, businesses cannot thrive, which is why we prioritize development through targeted learning events.
This year, we created opportunities for leaders across the portfolio to learn, grow, and connect. Here are some highlights:
These learning events are a testament to the investment we make in our people. By empowering individuals, we strengthen our organizations and pave the way for a brighter future.
Portfolio Companies: Shining Bright
As buy-and-hold forever acquirers, Lumine is invested in the long-term success of businesses. It’s about developing sustainable best practices to see a company’s growth over time.
In 2024, several companies celebrated major milestones.
Incognito Software Systems marked 10 years with Lumine, a decade of innovation and partnership that has been instrumental in shaping their success story. Over the years, Incognito has expanded its product line, grown into new geographies, and been recognized with various industry awards. Last year, the company joined FTTH Council Europe,, strengthening its commitment to helping service providers operationalize and accelerate fiber-based services across European markets.
Velocix celebrated 5 years with Lumine, showcasing growth and a continued focus on leading the way in their field. Over the years, Velocix, which joined Lumine via a carve-out acquisition from Nokia, has refined their product focus, expanded into new markets, won new customers, and developed industry-leading products. In 2024, they received the NAB Product of the Year Award and shared a firsthand look at a customer success story, Telus.
These milestones are not just markers of time but testaments to the dedication, talent, and perseverance of the teams behind these businesses. We look forward to sharing more stories of their journeys in the coming year.
As We Step Into 2025…
We carry forward the lessons of this past year, a strengthened sense of community, and optimism for the future. We remain committed to supporting our businesses and people, driving innovation, and navigating the fast-changing industry landscape with confidence and care.
Wishing you a happy and prosperous 2025.
The Lumine Group Team