Lumine Group Inc. entered into a binding agreement and plan of merger to acquire WideOrbit Inc. for approximately $0.5 million on December 12, 2022. Consideration for the purchase will be in the form of a cash payment plus the issuance to eligible WideOrbit shareholders of 13.83% of the shares of Lumine Group. In addition, Constellation has announced proposed distribution of the shares of Lumine Group Inc. which entity is expected to be spun out of Constellation and will operate as a separate publicly traded company. The purchase of WideOrbit will be financed with funding from Constellation and a banking partner. Annual gross revenues of WideOrbit for 2021 were approximately $167 million. Once the transaction is completed, WideOrbit will become a wholly owned subsidiary within Lumine Group and will operate as an autonomous business unit within the Lumine Group?s portfolio of companies. The acquisition is subject to the satisfaction of certain closing conditions. The transaction is expected to close in Q1 2023. Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor to WideOrbit.Alston & Bird LLP acted as legal advisor to Lumine Group Inc. (TSXV:LMN).

Lumine Group Inc. acquired WideOrbit Inc. on February 22, 2023. Eric Mathewson, joined the Board of Directors of Lumine Group as a Director. Robert S. Murphy, Joseph DiPonio and Michael N. Kandev of Davies Ward Phillips & Vineberg LLP acted as legal advisor to WideOrbit Inc.