Lumine Group Inc (TSXV:LMN) shares hit a high of $19, after opening at $16.25, on its first day of trading Friday after parent company Constellation Software Inc spun out its subsidiary to its shareholders following Lumine’s merger with WideOrbit Inc.
Lumine Group acquires, strengthens, and grows vertical market software businesses in the communications and media industry, while WideOrbit helps media companies do more business by making it easier to buy and sell advertising.
“For years, Lumine has been building a global network of communications and media software companies who are continuously learning, innovating, and enhancing their value to customers,” Lumine Group CEO David Nyland said in a statement.
“We celebrate the presence we have established in the communications space, and now, with WideOrbit, we will accelerate our presence and domain expertise in the media space,” Nyland added.
Constellation Software’s shareholders of record as of February 16, 2023, received 3.0003833 subordinate voting shares of Lumine Group for each Constellation common share held.
Lumine Group also recently completed the acquisition of Titanium Software Holdings Inc, which has been providing signaling, routing, subscriber and private networks domains to global telecom and government industries for over 20 years.
Constellation Software has been a long-time investor favourite, as its share value has soared 178% during the past five years and 12,954% all time.
Contact Sean at sean@proactiveinvestors.com