Lumine Group Expands Position in Communications & Media Vertical with Acquisition of Advantage 360
MAY 31, 2019, TORONTO —Lumine Group (“Lumine”) today announced that it has completed its eleventh acquisition in the Communications and Media vertical with the acquisition of Advantage 360 Software, LLC, (“Advantage 360”), a converged platform providing Tier 3 & 4 emerging markets operators with retail customer management, through point of sales, accounting, mediation, fulfillment, and assurance functions.
Founded in 1984, the current Advantage 360 platform includes full lifecycle customer management solutions and is the central source of all retail fulfillment and revenue assurance for its communication service provider customers.
“As we looked to expand our presence into new and existing markets, Lumine stood out as the type of acquirer with the necessary ecosystem and domain expertise needed to drive growth and existing customer retention,” said Richard J. Card, Founder & CEO. “We liked their practice of ‘buy and hold forever,’ as well as their dedication to letting acquired companies run as autonomously as possible, maintaining our corporate identity, and enhancing the brand we have worked so hard to build over 3 decades in the market. Their financial and resource backing is validation the solutions we provide our customers are relevant in the emerging markets we are focused on. I am extremely satisfied on my retirement; Advantage 360 is in the best possible hands!”
Advantage 360 solutions are deployed on three continents both on-premise and in the cloud, with minimal integration necessary due to its “telco in a box” architecture.
“We are excited to bring this asset into the Lumine Group portfolio to complement our existing portfolio businesses, and provide further coverage to our ecosystem serving the Tier 3 and 4 markets with a one-stop solution,” said David Nyland, President, Lumine Group. “We like the great companies we acquire to stay the great companies they are, keeping in place the processes that have made them successful, while leveraging Lumine’s business and financial expertise for continuous improvement. We believe that Lumine has the unique capability and capacity to invest in accelerating the growth of Advantage 360, evolve its product line, and expand its sales, services and support capabilities worldwide, making it an even better and stronger business for the benefit of its customers, employees and the industry as a whole.”
Advantage 360 is headquartered in Rancho Cucamonga, California, USA. While the CEO & Founder Richard J. Card is retiring on closing, long term executives with a combined service of 60+ years at Advantage 360 remain on the management team.
(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”.)