CNXC - Concentrix to sell off mobile network solutions business to Lumine Group

Concentrix (CNXC) has signed an agreement to sell off its mobile network solutions business to Lumine Group, a Volaris Group business specializing in media and communications.The mobile networks business will be marketed under the new brand NetEngage as an autonomous business unit of Lumine Group. NetEngage offers software capabilities including call completion, messaging and online charging for communications service providers.The deal is expected to close within 30 days. Financial terms of the transaction remain undisclosed.Concentrix recently reported revenue of $1.37B (+28.0% Y/Y) for Q2, beating estimates by $10M.Press Release

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Concentrix to sell off mobile network solutions business to Lumine Group