Lumata, a mobile marketing business formed by the spin off of Buongiorno’s B2B divisions into an entity backed by Francisco Partners, has begun commercial operations.
Lumata, which counts Orange, T-Mobile, Telecom Italia Mobile, Verizon, Airtel, MTS & Telefonica as clients, is the result of a €110 million deal announced by Buongiorno and private equity company Francisco Partners in August 2011. At that time, the companies said it would have ongoing revenues of €50 million.
Lumata, 40% owned by Buongiorno, combines Buongiorno’s operator, brand and manufacturer focused businesses within one company and is currently operating from 15 offices with 500 employees. The company said it plans to “focus on expanding the tools and services that its customers use to explore and seize new ways of interacting with their consumers”.
Former Clearwire executive and Match.com CEO Thomas Enraght-Moony will head the business.
Mauro Del Rio, founder and Chairman of Buongiorno and Board member of Lumata Group, said, “The Buongiorno B2B team has built a solid foundation. The combination of this team and Francisco Partners investment expertise makes this focused stand-alone company an incredibly exciting and logical next step in the businesses evolution. It will undoubtedly be the recipe for growth and success.”