Lumi provides software and real-time audience engagement technology which assists registrars or event organisers to register delegates, provide live, secure polling, Q&A management services and relevant reporting.
Commenting on the buy out, Nigel Hammond, partner, Vespa Capital said: "Lumi is a remarkable business with market leading positions across the world. The base of its activity is a steady stream of recurring revenues whilst the considerable investment that has been made in the software that enables the delivery of virtual AGMs provides a very attractive growth opportunity.
"Virtual AGMs are increasingly inevitable and the greater engagement with shareholders and efficiency that virtual AGMs enable will drive market penetration. The business is ably led by Richard Taylor who together with his first class team have a clear plan for developing the business on a standalone basis."
Richard Taylor, CEO, Lumi Technologies Ltd, added: "Vespa Capital very quickly understood the growth opportunities in front of Lumi and were willing to move very fast as a result. They had a clear empathy for the realities of a business of our size and stage and worked together with us to put together a deal which worked for all parties. Most important of all to Lumi was that Vespa Capital worked with a high degree of transparency and integrity throughout."
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