No end yet to AT&T talks, but Evolving buys Lumata biz, ThoughtSpot raises $60m for AI analytics
AT&T‘s lawyers mays still be wrangling with the US Justice Department over terms of the €85 billion takeover of Time Warner, but the last few days have at least seen successful investments in businesses supporting the communications sector.
Real-time analytics specialist Evolving Systems, Inc., agreed on Friday to acquire the business operations of Lumata Holdings, says Jeremy Cowan. Evolving Systems is a provider of software and services for connected mobile devices to over 90 network operators in 66 countries worldwide.
Lumata Holdings Ltd. is a global provider of real-time, 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 (EVOL) 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.”
The acquisition of Lumata follows Evolving Systems’ acquisitions of Sixth Sense Media in 2015, and Business Logic Systems in 2017. The combination of expertise and technology from all three companies is claimed to give Evolving a platform on which to build a global position in Customer Value Management.
ThoughtSpot raises $60m in Series C funding
Palo Alto, California-based ThoughtSpot aims to make it easier for business users to analyse data, and has developed search engine technology for the purpose called SpotIQ.
Capital One Growth invests in later stage technology providers, and its investment in ThoughtSpot is planned to help the start-up to commercialise its artificial intelligence-powered tool SpotIQ.
Founded in 2012, ThoughtSpot is headed by co-founder & CEO, Ajeet Singh and co-founder & CTO Amit Prakash. Previously, Prakash worked in software engineering for Google and Microsoft. Singh is a co-founder and Advisor of Nutanix.
Click here for a brief video about ThoughtSpot.
Sources: Evolving Systems; Globe Newswire; SeekingAlpha.com; ThoughtSpot.com; Yahoo Finance.