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    Lumexis Corporation Suspends Many Business Operations, Searches for an Acquirer

    July 28, 2016  | Written by APEX Staff
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    Lumexis' iPAX, billed as ultra-low cost in-seat IFE system, was launched at Aircraft Interiors EXPO 2015. Image: Lumexis
    Lumexis’ iPAX, billed as an ultra low-cost in-seat IFE system, was launched at Aircraft Interiors EXPO 2015. Image via Lumexis

    Lumexis Corporation announced this week that after 10 years in the industry, it has suspended many of its operations. The Irvine-based in-flight entertainment hardware and technology company was cofounded in 2003 by Doug Cline and Rich Salter, and quickly gained a reputation in the industry for its innovative lightweight fiber-optic solution, recruiting top professionals and experts in in-flight technology.

    In a release issued this week, the company states:

    “On June 22, 2016, due to liquidity constraints, Lumexis Corporation (“Lumexis”) suspended many aspects of its business operations and was forced to terminate the majority of its personnel. Over the past few weeks, the Lumexis Board, company President Lou Sharkey and CFO Marty Breen have been actively engaged in a process to find an acquirer for the company/assets. Lumexis is currently in discussions with multiple groups regarding a potential transaction. The company expects to conclude this process in the coming weeks.”

    “During this period the company has been in constant communication with its customers and suppliers. Lumexis management is grateful for all the support received from their customers, supply chain and industry partners during this transition. As more updates and clarification on the future of Lumexis become available, further updates will be openly communicated.”

    “Questions to Lumexis may be addressed to lsharkey@lumexis.com. Please note that due to the volume of inquiries from various interested parties, Lumexis may not be in a position to respond to calls or messages in as timely a manner as we would like.”

    Centered on lightweight in-seat audio-visual on-demand systems, Lumexis’ products include Fiber-To-The-Screen (FTTS) in-flight entertainment, which was installed on flydubai in 2010. In a joint announcement at APEX EXPO 2015, Caribbean Airlines executives shared that the airline selected FTTS for installment on its Boeing 737 fleet. In addition to its lightweight fiber properties, the system also garnered interest for its innovative second-screen capabilities and took on heavyweights such as Panasonic, Thales and Zodiac Inflight Innovations.