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M&A
Bridgepoint acquires majority stake in LumApps to expand AI solutions
Remote Work Infrastructure
May 28, 2024
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May 28, 2024

Bridgepoint acquires majority stake in LumApps to expand AI solutions

M&A

  • Bridgepoint has acquired a majority stake in LumApps, a social intranet platform that provides a digital workplace for internal communication, for USD 650 million. Despite this change, LumApps' founders and senior management will remain with the company. The transaction is set to close in July 2024.

  • With the new funds, LumApps plans to pursue more M&A activities and expand its AI capabilities, focusing on developing a GenAI companion and micro-learning solutions.

  • This strategic investment will see LumApps' existing investors, including Goldman Sachs, Eurazeo, Bpifrance, and IRIS, selling their stakes. Previously valued at USD 255 million, LumApps' last funding round was in 2020 for USD 70 million. 

  • Analyst Quicktake: This is a significant milestone for LumApps, valued at USD 255 million following a USD 70 million funding round in January 2020. The company has integrated AI into its platform, providing services like AI-based search, recommendations, and multilingual translation.

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