Lumine Group Completes the Purchase of Casa Systems’ Axyom Cloud Native 5G Core Software & RAN Assets
TORONTO, April 30, 2024 (GLOBE NEWSWIRE) -- Lumine Group Inc. (“Lumine Group” or “the Company”) (TSXV: LMN), a global buy-and-hold forever acquirer of communications and media software businesses, today announced that it has completed the acquisition of the Axyom Cloud Native 5G Core Software & RAN Assets (“Assets”) from Casa Systems (Nasdaq: CASA). This marks Lumine Group’s 14th corporate carve-out that it has completed and set up in the communications and media space.
The Assets will operate as an independent, autonomous business unit within Lumine Group under the brand name “Axyom.Core”.
The acquisition was first announced on April 3, 2024.
Forward Looking Statements
Certain statements herein may be “forward looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual events to be materially different from any future events expressed or implied by such forward looking statements. Words such as “may”, “will”, “expect”, “believe”, “plan”, “intend”, “should”, “anticipate” and other similar terminology are intended to identify forward looking statements. Such forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future results, and will not necessarily be accurate indications of whether or not such results will be achieved, or when such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements reflect current assumptions and expectations regarding future events and are made as of the date hereof and Lumine Group assumes no obligation, except as required by law, to update any forward looking statements to reflect new events or circumstances.
About Casa Systems
Casa Systems, Inc. (Nasdaq: CASA) is a next-gen technology leader that supports mobile, cable, and wireline communications services providers with market leading solutions. Casa’s virtualized and cloud-native software solutions modernize operators’ network architectures, expand the range of services they can offer their consumer and commercial customers, accelerate time to revenue and reduce the TCO of their network infrastructure and operations. Casa’s suite of open, cloud-native network solutions unlocks new ways for service providers to quickly build flexible networks and service offerings that maximize revenue-generating capabilities. Commercially deployed in more than 70 countries, Casa Systems serves over 475 Tier 1 and regional service providers worldwide. For more information, visit http://www.casasystems.com/.
About Lumine Group
Lumine Group acquires, strengthens, and grows vertical market software businesses in the Communications and Media industry. Learn more at www.luminegroup.com.
Lumine Group Media Contact
Erini Andriopoulos
Senior Director of Marketing & Communications, Lumine Group
erini.andriopoulos@luminegroup.com
+1-437-353-4910
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