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An announcement from Lumine Group Inc ( (TSE:LMN) ) is now available.
Lumine Group Inc. has announced its acquisition of Synchronoss Technologies for approximately $116.4 million, marking its first acquisition of a public company. This strategic move is expected to enhance Lumine’s portfolio and provide Synchronoss with opportunities for growth and innovation in the mobile cloud storage market. The acquisition will allow Synchronoss to operate under its original brand, maintaining its market alignment, while offering enhanced capabilities to customers through Lumine’s diversified portfolio.
The most recent analyst rating on (TSE:LMN) stock is a Hold with a C$30.00 price target. To see the full list of analyst forecasts on Lumine Group Inc stock, see the TSE:LMN Stock Forecast page.
Spark’s Take on TSE:LMN Stock
According to Spark, TipRanks’ AI Analyst, TSE:LMN is a Neutral.
Lumine Group Inc.’s stock score is driven by strong financial performance, with notable growth and profitability improvements. However, technical indicators suggest bearish momentum, and the high P/E ratio indicates potential overvaluation. The absence of earnings call data and corporate events limits additional insights.
To see Spark’s full report on TSE:LMN stock, click here.
More about Lumine Group Inc
Lumine Group Inc. is a global acquirer of communications and media software businesses, focusing on buy-and-hold strategies. The company aims to protect customer brands and mission-critical solutions through perpetual ownership.
Average Trading Volume: 139,292
Technical Sentiment Signal: Sell
Current Market Cap: C$7.48B
See more data about LMN stock on TipRanks’ Stock Analysis page.