Project and information management company Newforma announced on October 21, 2026, that it has acquired Toronto-based analytics firm Lumi AI. The acquisition aims to integrate Lumi's engine to provide explainable answers on AECO project data.
Acquisition Details
Newforma, an Ethos Capital company and a provider of project and information management for architecture, engineering, construction, and owner firms, announced the acquisition of Lumi AI on October 21, 2026. Terms of the transaction were not disclosed by the companies.
Tudor Boiangiu, co-founder and CTO of Lumi AI, joins Newforma as VP of AI Engineering, and the Lumi engineering team will continue building from Toronto. Ibrahim Ashqar serves as co-founder and CEO of Lumi AI, while Peter Cannone is the CEO of Newforma.
Platform and Vojo Integration
Lumi's engine will be integrated into Newforma platforms to draw on more than 20 years of AECO project data structure, including issues, requests for information, submittals, and communication history.
Lumi's agentic layer will extend Vojo, an AI assistant that Newforma introduced in May 2026 at Newforma World 2026. The integration will also bring analytics into Newforma Konekt's smart project dashboards.
Explainable AI Standards
According to Newforma, AI used for project decisions must meet three tests: answers must be explainable, verifiable against source data, and accurate enough to act on when liability is on the line. Lumi's engine builds a semantic layer over operational systems to read what data means rather than just where it lives.
The engine asks clarifying questions when a prompt is vague, shows the reasoning behind every answer, and flags data quality problems. Newforma stated that its platform provides a single view into all sources of project truth rather than requiring firms to use a single vendor, supporting over 4.5 million users globally across more than 20 million projects.
Key facts and where they come from
- Newforma acquired Lumi AI on October 21, 2026.
Newforma, the leading project and information management company for architecture, engineering, construction and owner (AECO) firms, today announced it has acquired Lumi AI
- Lumi AI was founded in Toronto in 2023.
Founded in 2023 in Toronto, Lumi's agentic analytics platform connects to all your data sources
- Tudor Boiangiu joined Newforma as VP of AI Engineering.
Tudor Boiangiu, co-founder and CTO of Lumi AI, joins Newforma as VP of AI Engineering
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