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Tuesday 18 April 2017

Vespa helps Lumi run virtual AGMs

logoHampshire-based Lumi Technologies has had an interesting history, which has recently become even more interesting. Originally incorporated in 2006 As Apollo Wireless Media, Lumi develops software for running conferences and events. Lumi acquired the nearly 10-times larger Interactive Meetings Limited (IML) from Computershare in 2013 and now bills itself as ‘a global leader in real-time audience engagement technology’. Lumi made a £3.9m net loss on revenues of £12.3m in 2015

Lumi Technologies has just sold a majority stake in Lumi AGM, the part of the business aimed at the corporate shareholder meeting market, to London-based mid-market private equity firm, Vespa Capital. Terms were not disclosed. The remainder of the Lumi business has been rebranded as Meetoo, a platform for real-time polling for training, meetings and classes. The Lumi AGM and Meetoo businesses remain linked, insofar as Meetoo has a seat on the Lumi AGM board and will support the development of the product set.

Well, I think it's interesting, anyway.

Posted by Anthony Miller at '09:48' - Tagged: funding   buyout  

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