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TORONTO - Lumine Group Inc. (TSXV: LMN), a $8.65 billion market cap company known for its long-term investments in communications and media software businesses, has announced an agreement to acquire Datafusion Systems. The company, which maintains impressive gross profit margins of 91.8%, has announced an agreement to acquire Datafusion Systems. Based in Dubai, UAE, Datafusion specializes in secure communication and intelligence solutions for sectors such as telecom, law enforcement, and government agencies.
The transaction, expected to be finalized by early Q3, is subject to approval from the Dubai Development Authority. This acquisition is set to broaden Lumine Group’s product offerings and market reach, particularly in the signaling and security sector. According to InvestingPro data, Lumine Group maintains a healthy financial position with a strong current ratio of 2.18 and has demonstrated robust revenue growth of 29.4% over the last twelve months.
Lumine Group’s COO, Tony Garcia, highlighted the strategic fit of the acquisition, noting Datafusion’s expertise and established track record. He emphasized the growing demand for secure communication solutions and the value Datafusion’s experience will bring to the Lumine Group.
John Senior, CEO of Datafusion, expressed enthusiasm for the new partnership, citing Lumine Group’s buy-and-hold philosophy and the potential for global growth opportunities.
This move marks Lumine Group’s first acquisition in the UAE, signaling an expansion of its global footprint. The terms of the acquisition were not disclosed in the press release. InvestingPro analysis suggests the company is currently trading slightly above its Fair Value, with multiple additional insights available through the comprehensive Pro Research Report, which provides detailed analysis of the company’s financial health and growth prospects.
The information regarding the acquisition is based on a press release statement from Lumine Group.
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