- Founded: 2002
- Headquarters: New York, USA
- Industry: Cloud subscription business management
- Acquired: July 2021
- Acquisition Type: Divestment
Why Sell? To join an organization with complementary customers who are looking to invest in the business and grow the Ubersmith team.
Why Lumine? Ubersmith was excited to join a group of communications and media experts, and gain access to an international customer ecosystem to accelerate growth.
Founded in 2002, Ubersmith is a leader in subscription business management for the cloud. Headquartered in New York, Ubersmith provides billing, infrastructure, and ticketing solutions that are open, scalable, and integrated. Ubersmith enables recurring and usage-based billing, including turnkey billing for cloud services, bandwidth, virtualization, and more. The company’s plugin modular system provides flexibility for extending and integrating with third-party business management software packages.
Prior to joining Lumine, Ubersmith was owned by Internap Holdings Inc. Today, Ubersmith serves over 4,000 users across 15 countries. Organizations worldwide rely on Ubersmith to better serve their customers and better run their businesses.
Path to Acquisition
Kurt Daniel, CEO of Ubersmith, explains that Ubersmith and its former parent company had been considering a divestment for quite some time. The intention was to provide a home for Ubersmith that would allow the company to be part of an organization with likeminded businesses, and be part of an organization that could provide support and resources to drive long-term sustainable growth.
As Kurt and the Internap team began exploring opportunities, they connected with Lumine through investment bankers, Alantra.
After meeting with Lumine, a few things immediately stood out to Kurt and the Internap team. “Lumine does not directly compete with Ubersmith’s customers, rather, Lumine’s businesses are complementary to Ubersmith,” said Kurt. “When looking for a new home for Ubersmith, this is exactly what we had been looking for.”
Ubersmith also believed in the Lumine vision of providing businesses with access to best practices to empower decision-making that drives business growth. “From the beginning of our search, we looked for an owner who would invest in the team and the product,” said Kurt. “We were focused on finding someone who believed in mutual trust, as well as Ubersmith’s solutions and potential,” says Kurt.
The Lumine Advantage
In July 2021, Ubersmith joined Lumine as the 20th company within the portfolio. “It’s great to be part of a group of companies focused on communications, telco, and related markets,” said Kurt. “The team is excited knowing we will be part of an organization that is relevant to our business.”
At Lumine, Ubersmith will operate in a decentralized model, a change from their previous owner. “At Lumine, we are able to up-level quickly – gaining resources for finance, human resources, legal, and other areas where we did not have the right amount of capacity before.”
Ubersmith has a strong commercial team and an innovative product roadmap. Investing in managed services and professional services, which Lumine strongly believes in, is of great interest to Kurt in continuing to create a high-quality team and better serve customers.
Ubersmith is also certain their customers will appreciate Lumine’s buy-and-hold forever messaging and its ecosystem of complementary businesses. “Lumine strengthens Ubersmith’s ability to enable new solutions and opportunities for customers,” said Kurt.
3 Reasons Ubersmith Chose Lumine
Buy & Hold Forever
Knowing that Lumine is a buy-and-hold forever acquirer, Ubersmith felt confident that the company would never have to go through another transaction process, and they focus on innovation, growth, and progress.
Access to Established Best Practices
Ubersmith was interested in the Lumine Playbook, which shines a light on over 200 best practices related to acquiring, strengthening, and growing software businesses, as an opportunity to learn more about how to strengthen and grow their business and their team.
The Lumine Ecosystem
Ubersmith was excited by the opportunity to join the Lumine ecosystem, a network of complementary businesses, which offers access to a network of like-minded leaders and global customers and additional partners to drive organic growth.
What's Next for Ubersmith?
“As a CEO, joining Lumine is a great place to join forces and accelerate global growth for the organization,” said Kurt. “We can continue to operate as we always have at Ubersmith, but now with Lumine, we can accelerate the progress.”
In a note Kurt published to the Ubersmith blog on the day of the acquisition, he spoke to what he is looking forward to in the company’s next chapter, “As part of a highly successful and much larger organization, we will experience a strong tailwind while we continue to pursue our vision of subscription management for any business model/any infrastructure and our mission of helping businesses advance their billing and related efforts.”
During the global pandemic, Ubersmith and the Lumine team have not yet had a chance to meet in person. “Working with the team at Lumine has been a great experience so far,” Kurt closes. “With the current global circumstances, we have not yet met in person, but the virtual experience has exceeded our expectations. We are greatly looking forward to continuing to work together, hopefully meeting in-person soon.”