Evolving Systems Announces Signing of Definitive Agreement to Acquire Lumata
August 16 2017 - 10:30AM
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.
About Evolving Systems®Evolving
Systems, Inc. (NASDAQ:EVOL) is a provider of software and services
for connected mobile devices to over 90 network operators in 66
countries worldwide. The Company's portfolio includes
market-leading solutions and services for real-time analytics,
customer acquisition and customer value management. Founded in
1985, the Company has its headquarters in Englewood, Colorado, with
offices in the United States, United Kingdom, India, Malaysia and
Romania. For more information please visit www.evolving.com or
follow us on Twitter at http://twitter.com/EvolvingSystems.
CAUTIONARY STATEMENTThis news
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, based on
current expectations, estimates and projections that are subject to
risk. Specifically, statements about the impact and ability
of the solution described in this press release to handle future
needs of customers are forward-looking statements. These statements
are based on our expectations and are naturally subject to
uncertainty and changes in circumstances. Readers should not place
undue reliance on these forward-looking statements, and the Company
may not undertake to update these statements. Actual results could
vary materially from these expectations. For a more extensive
discussion of Evolving Systems’ business, and important factors
that could cause actual results to differ materially from those
contained in the forward-looking statements, please refer to the
Company’s Form 10-K filed with the SEC on March 28, 2017; Forms
10-Q, 10-Q/A, 8-K and 8‑K/A; press releases and the Company’s
website.
Investor Relations Contact:
Michael Glickman
Senior Vice President, Investor Relations
GW Communications (for Evolving Systems)
Tel: (917) 397-2272
Email: mglickman@GWCco.com
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