Evolving Systems Announces Signing of Definitive Agreement to Acquire Lumata

Evolving Systems (NASDAQ:EVOL) has announced that it has signed a definitive agreement to acquire Lumata Holdings.
As quoted in the press release:

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.”

Click here to read the full press release.