Lumine Group Acquires Lifecycle Software Expanding Position in Communications & Media Vertical
TORONTO, Jan. 06, 2020 (GLOBE NEWSWIRE)—Lumine Group (“Lumine”) today announced that it has completed its thirteenth acquisition in the Communications and Media vertical with the acquisition of Lifecycle Software LTD (“Lifecycle”), a provider of mission critical billing, customer management, and business intelligence software solutions to mobile network operators, mobile virtual network operators, and mobile virtual network enablers and aggregators.
Founded in 1995 by Kim Craven, Lifecycle was formed to address a need by new UK market fixed communications providers and ISP resellers. In 2008 Lifecycle evolved its offerings to focus on the emerging needs of virtual mobile operators, enabling them with full subscriber management and billing turn-key solutions.
“We had been talking with Lumine regularly for quite some time and became convinced they would be the best home for Lifecycle for a number of reasons, mainly: the access to their global communications customer and partner ecosystem; being able to operate autonomously; and, the organization’s strong knowhow, best practices and financial resource to enable us to grow sustainably and entertain future M&A of our own,” said Kim Craven, Managing Director and Founder of Lifecycle. “We also liked their practice of ‘buy and hold forever’ as well as their dedication to allow us to maintain our corporate identity and accelerate the brand we have worked so hard to build over 2 decades in the market.”
Lifecycle solutions are deployed on premise and in the cloud, with long term flagship customers such as Plusnet, Three, Smarty, xMobility, Salt and On-Off.
“We are excited to bring a market-leading billing business into our Portfolio, in order to complement our existing companies and provide further mission-critical software capabilities to our ecosystem,” said David Nyland, President, Lumine Group. “We are particularly impressed with how Lifecycle has transformed itself from a fixed line and ISP on-premise solution provider to a real-time mobile virtual network operator billing, customer management, and analytics solution in a modern and scalable Software-As-A-Service and Managed Services business architecture.”
(Note: At the time of the acquisition, Lumine Group was known as Volaris Group Communications & Media. Changes have been made in this press release to replace “Volaris Group Communications & Media” with “Lumine Group”.)