Constellation Software’s subsidiary Volaris buys marine software firm SpecTec Group Holdings
Toronto, Ontario, Canada. (Marketwire) — Constellation Software Inc. (CSU.TO) has announced that its wholly-owned division Volaris Group has acquired SpecTec Group Holdings Ltd. SpecTec is an international provider of marine software and remote asset management solutions for the shipping, off-shore oil and gas, and naval defence industries. The acquisition is Volaris’ first in the marine vertical.
SpecTec has offices in 15 countries and hundreds of customers ranging from individual ship owners to large multinational oil corporations. The company’s AMOS system is a fully featured remote asset and marine-focused enterprise solution suite for maintenance, spare parts and stock control, purchasing and procurement, quality and safety document management, voyage management and personnel management. In addition, SpecTec provides the IDEA software suite for efficient vessel management designed specifically for the yachting industry.
“SpecTec is considered a market leader in marine-focused software and remote asset management solutions making them an ideal acquisition as we move into this vertical market,” said Mark Miller, CEO, Volaris Group. “We look forward to supporting the SpecTec team as they continue to grow and strengthen their business in this market.”
Including the acquisition of SpecTec, Constellation has deployed approximately CAN$72 million in net cash considerations on 19 acquisitions in the year to date.
Volaris acquires, strengthens and grows vertical market technology companies. Its companies provide specialised, mission-critical systems to vertical markets worldwide, including agri-food, asset management and logistics, justice, people transportation and rental management.
Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”.