Lumine Group enters into an agreement to acquire the video network business from Synamedia

TORONTO, CANADA – 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, through its subsidiary, it has entered into an agreement to acquire the Video Network Business (“the business”) from Synamedia. Upon completion, this will mark Lumine Group’s 16^th corporate carve-out transaction.

Headquartered in the UK, Synamedia is a global provider of video software solutions helping operators, broadcasters and media companies transform how video is delivered, experienced and monetised. With more than 30 years of industry expertise, Synamedia combines cloud and AI technologies, operational scale, managed services, and deep domain knowledge to support customers through the evolution of video.

“The Synamedia Video Network business will be a meaningful addition to Lumine’s growing Media ecosystem,” said Tony Garcia, Chief Operating Officer at Lumine Group. “On completion, this acquisition will deepen our presence in the Media supply chain domain, with particular focus on Video Processing, Broadcast Delivery and Live Streaming. Consistent with Lumine’s decentralization strategy, the business will operate independently under its primary product name, ‘Quortex’.  We look forward to welcoming this global team and its customers to Lumine, to share our best practices, and to learn from their decades of industry insight.”

Paul Segre, Chief Executive Officer of Synamedia adds, “This transaction on completion will mark an exciting new chapter for both Synamedia and Quortex.  This will create two distinct businesses with clear strategic direction and strong category positioning, allowing both to move faster, innovate more effectively and deepen the value they deliver to customers around the world. We look forward to working closely with Lumine over the coming weeks to ensure a smooth transition for our valued employees, customers and partners.”

Quortex has a proven track record of building and delivering intelligent video solutions across cloud, on-premise and hybrid environments. Customers include broadcasters, media companies, telcos and streamers. Its portfolio and services address some of the industry’s most pertinent challenges today, including preparing for the pending C-Band transition in the U.S., transitioning from satellite to IP, delivering high quality viewing experiences and monetizing services.

The acquisition is anticipated to close in the near future, subject to customary closing conditions and completion of applicable employee consultation processes.