Belgian investment fund M80 acquired a majority stake in Luminis, a Dutch cloud and data service provider. The investment fund aims to grow into a European provider of digital transformation services.
Luminis said the acquisition allows it to further expand its strategy and market position. According to CEO Hans Bossenbroek, the company was no longer able to organically grow due to labor market constraints.
By allowing M80 to acquire a majority stake, the Dutch cloud and data service provider attempts to realize its growth ambitions. The acquisition price was not disclosed.
Luminis focuses on providing cloud applications based on AWS. Its portfolio includes consultancy, software development, cloud application management and cloud migration.
In addition, the company has its own Data-as-a-Service (DaaS) platform called InformationGrid. The platform allows customers to leverage data for business operations. InformationGrid features database and cloud abstraction, schema management and transformation, security and privacy by design, and domain and model development.
Luminis has offices in five Dutch cities and provides services to Thales, Alliander, Huuskes, BDR Thermea, bol.com and The Learning Network.
M80 wants to become a European player
M80 wants to take the next step in its European growth strategy. The investment fund hopes to become a leading service provider of digital transformations by acquiring strategic companies throughout Europe. Earlier, the investment fund acquired XPLUS, a Belgian IT infrastructure firm.
M80 invests in companies in the Benelux and France. The investor focuses on companies in the healthcare, consumer, business services and industrial sectors. M80 typically transforms its acquisitions to accelerate revenue and improve operations.