Evolving Systems to Acquire Lumata

Evolving Systems' purchase of Lumata is its latest acquisition in the customer value management sector and will strengthen its global presence and add new customer accounts.

August 18, 2017

2 Min Read

ENGLEWOOD, Colo. -– Evolving Systems, Inc. (NASDAQ: EVOL), a leader in real-time analytics, customer acquisition and customer value management solutions and services, today announced it has signed a definitive agreement to acquire the business operations of Lumata Holdings Ltd.

Lumata Holdings Ltd. (“Lumata”) is a leading global provider of real-time, next generation loyalty and customer lifecycle management software and services. It delivers tools and marketing expertise to service providers and brands that enable them to unlock the value in their customer data.

With a customer base spanning Europe, Africa, Central America and Southeast Asia, this acquisition further strengthens Evolving Systems solutions offering, expands its geographic footprint and adds to its global customer base. Lumata services many of the world’s leading and emerging mobile operators including Orange, Telefonica and other Tier 1 operators in Europe and around the world. The transaction is expected to close in September.

“Thanks to the widespread adoption of mobile, the next generation of customer value management is moving beyond traditional CRM and loyalty to highly personalized and contextual, real-time, omni-channel consumer engagement in the telecom, financial services and retail verticals,” said Thomas Thekkethala, Chief Executive Officer of Evolving Systems. “Lumata has been a pioneer in this area making it an ideal complement to our growing array of next-generation Customer Value Management offerings and we are very excited to announce this latest milestone in our business transformation.”

Adhish Kulkarni and Mo Firouzabadian, co-CEOs of Lumata, added, “Evolving Systems shares our vision for the future of real-time loyalty and customer lifecycle management and our commitment to help customers build their businesses with big data. Leveraging the complementary strengths, technology, and expertise, we look forward to the next stage of our development as a part of this growing organization.”

The acquisition of Lumata follows Evolving Systems’ acquisitions of Sixth Sense Media in 2015, and Business Logic Systems in 2017. The combination of expertise and technology from all three companies gives Evolving Systems a powerful platform from which to build a global leadership position in Customer Value Management.

Evolving Systems Inc. (Nasdaq: EVOL)

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