April 10, 2023
Digital Lumens Quietly Sold to Singapore Firm
Company cuts numerous jobs as new firm turns focus to software
The assets of Boston-based turnkey LED lighting manufacturer, Digital Lumens, have been sold to Singapore firm Siteworx Software, PTE Ltd. Previously, Digital Lumens was owned by private equity firm, Skyview Capital, which had acquired the company along with Encelium from ams Osram in September 2021. Skyview Capital later sold Encelium to Legrand after a 15-month ownership period.
The February acquisition of Digital Lumens’ assets by the Singapore-based Siteworx Software was revealed in a memo obtained by inside.lighting. Siteworx Software, which shares its name with Digital Lumens' main software platform, was established as a Singapore business in January by an unnamed team of individuals led by Guy Peckham. The group purchased the software, software development licenses, service contracts, trademarks, domain names, and hardware of Digital Lumens.
According to reports, Siteworx Software plans to concentrate on the software side of the business while discontinuing the hardware segment. Digital Lumens currently generates recurring SaaS revenue from an estimated 300-400 customers.
The transition from Skyview Capital to Siteworx Software has not been without its challenges. Several Digital Lumens employees in leadership and management roles were let go, while at least one US-based business development person, along with software engineers and other staff, were retained.
Skyview Capital's exit from Digital Lumens bears some common threads to the sudden shutdown of Universal Douglas by California-based private equity firm Atar Capital last month. Interestingly, multiple executive-level employees at Skyview Capital share a connected work history with Atar Capital management through another private equity firm, Platinum Equity.
Siteworx Software has pledged to announce its strategy and management team soon. The company will continue to use the digitallumens.com domain and has plans to launch siteworx.io and siteworx.software as well.
