Q: what does it do and why was it created?
5i Research Answer:
LMN was spun out of Constellation Software (CSU) in March of this year. CSU generally believes that its spin-outs will grow faster and perform better as an independent company than under the umbrella of CSU.
Lumine operates similarly to CSU, in that it is a serial acquirer of Vertical Market Software (VMS) companies, although LMN targets the US media vertical. It has a market cap of $1.4B, sales have grown nicely, it has low debt levels, and generates a good level of free cash flow.