Alantra advises Ubersmith on sale to Lumine Group
SECTORTechnology
ServiceM&A
New York – Alantra, a leading global investment bank and asset management firm, is pleased to announce that Ubersmith Inc. has been sold to Lumine Group, a division of Volaris Group, an Operating Group of Constellation Software Inc. (TSX:CSU). The transaction closed on July 1, 2021, and the deal value was not disclosed.
Wholly owned by Internap Holding LLC and headquartered in New York City, Ubersmith offers integrated, subscription business management solutions for billing, infrastructure, and ticketing. Ubersmith enables recurring and usage-based billing, including turnkey billing for cloud services, bandwidth, virtualization, backup, power, support, and more. The company’s plugin modular system provides flexibility for extending and integrating with third-party business management software packages. Ubersmith serves over 4000 customer users across 15 countries.
“We are pleased to have advised another leading software billing platform and wish the Ubersmith management team continued success and growth with their new partner, Lumine Group,” said Michael Lenoce, Managing Director, Alantra.
“In the Lumine Group Global Ecosystem, Ubersmith’s open and scalable billing, infrastructure, and customer management platform is well-positioned for success,” said Kurt Daniel, CEO of Ubersmith in a company statement. “We have found a perpetual home for our more than 100 active customers globally and a business acceleration opportunity to expand our position in the Cloud, Data Center, SaaS, and related markets.”
“We are excited to welcome this new billing and customer management dimension to Lumine, reinforcing our vision and customer strategy that immense cloud-based communications infrastructure services will require dedicated real-time specialist usage and infrastructure device management,” said Tony Garcia, group leader of monetization at Lumine.
This transaction adds to Alantra’s expertise within the cloud and billing & payments software verticals. Other recent Technology transactions include the majority investment in Rev.io by Primus Capital, the sale of Risk Focus to Ness Engineering, the sale of Foghorn Consulting to Evoque Data Center Solutions, and the announced sale of BoxBoat Technologies to IBM. The Alantra team advising Ubersmith included Michael Lenoce, Renee Shaening, and Killian Bubrosky.
