Lumine Group Signs Agreement to Acquire Flash Networks Ltd.
TORONTO, June 10, 2020 (GLOBE NEWSWIRE)—Lumine Group (“Lumine”) today announced that it has signed an agreement to acquire its fifteenth acquisition in the Communications and Media vertical with Flash Networks Ltd (“Flash”), subject to a closing process to comply with regulatory requirements in Israel.* Flash is a provider of optimization solutions that enable telecommunications operators to improve Radio Access Network spectral efficiency, boost network speed, optimize video and web traffic, and generate over-the-top revenues from the mobile internet.
Founded in 1996 in Herzliya Israel, with a heritage in TCP/IP network performance, Flash launched in 2007 its Harmony platform designed to create a fast, safe, adaptive and personalized user experience while harmonizing network infrastructure. Since then, Flash has accumulated customers globally across 5 continents.
“We have been talking with Lumine regularly since 2016 and we are now convinced they are the best home for Flash as they are able to provide access to their global communications customer and partner ecosystem. Flash continues to operate autonomously, leveraging Lumine’s extensive experience, best practices and financial resources to enable us to grow sustainably and entertain future M&A of our own,” said Tomer Itah, CEO of Flash. “A key element to our decision is the Lumine unique acquisition principle of ‘buy and hold forever’ as well as their commitment to allowing us to maintain our corporate identity and accelerate the brand we have worked so hard to build over 2+ decades in the market,” added Liam Galin, Chairman of the Board and former CEO.
Today, Flash’s customer base includes global tier 1 telecommunications operators, Globe Telecom, Verizon, T-Mobile, Safaricom, Vodafone and Orange.
“We are excited to bring a market-leading network optimization 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 Flash has transformed itself into a cloud-native SDN and NFV deployment model in partnership with key industry players in the industry including Nokia and Ericsson.”
*As of August 5, 2020, Lumine Group has successfully completed the purchase of Flash Networks. Read more here.
About Lumine Group
Lumine acquires, strengthens, and grows vertical market technology companies. As an Operating Group of Constellation Software Inc., Lumine is all about strengthening businesses within the markets they compete and enabling them to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions.
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