Evolving Systems Completes Acquisition of Lumata
September 07 2017 - 8:00AM
Evolving Systems, Inc. (NASDAQ:EVOL), a leader in real-time
analytics, customer acquisition and customer value management
solutions and services, today announced it has completed the
acquisition of the business operating units of Lumata Holdings Ltd.
(Lumata).
Lumata is a leading global provider of
real-time, next generation loyalty and customer lifecycle
management software and services that helps businesses gain value
from their customer data for relevant and contextual insights and
actions of value to both customers and enterprises. Its customers
include mobile operators like Orange, Telefonica and other Tier-1
and emerging operators in Europe and around the world. The
acquisition is expected to be accretive to Evolving Systems’
operations once the integration of the business is completed by
year-end 2017.
“We are excited to have completed this
acquisition as it further reinforces our commitment to the customer
acquisition and customer value management (CVM) domains that we
built through the acquisitions of Sixth Sense Media and more
recently, Business Logic Systems. Lumata’s value lies in its
patented technology, industry expertise and strong customer
relationships, in particular, those across Western Europe,” said
Thomas Thekkethala, Chief Executive Officer of Evolving Systems.
“Led by the explosive growth in mobile, the next generation of CVM
is moving beyond traditional CRM and points based loyalty systems
to highly personalized and contextual, real-time, omni-channel
consumer engagement in multiple verticals including telecom,
finance, and retail.”
The acquisition of Lumata is another milestone
in Evolving Systems’ transformation from its position as a market
leader in customer acquisition, development and retention serving
the telecommunication industry. Through the growth of its CVM
technology and portfolio, Evolving Systems is positioned to be a
next-generation mobile consumer engagement solutions accelerator
across multiple industry verticals.
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 of the Lumata
acquisition and the Company’s ability to integrate the acquisition
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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