Volaris Group Inc., a division of Toronto software company Constellation Software Inc., has acquired Information Distribution & Marketing Inc., a Warner Robins, Georgia-based provider of property and casualty insurance administration software to regional insurance companies and agents. Financial terms of the transaction were not published. Constellation is a portfolio investment of Canadian buyout firm OMERS Private Equity, which has backed the company since 2000. OMERS sold part of its stake in the company in 2012 for gross proceeds of C$173 million.
Constellation Software Inc. (“Constellation”) (TSX: CSU) today announced that its wholly owned division Volaris Group Inc. (“Volaris”) has acquired Information Distribution & Marketing, Inc. (“IDMI”), a leading provider of property and casualty insurance administration software to regional insurance companies and Managing General Agents (MGAs). This is Volaris’ first acquisition in the Insurance vertical.
IDMI’s flagship product, called PTS, is a policy administration system that provides insurers with full policy lifecycle processing capabilities from policy administration and reporting through to agency point of sale and mobile applications. IDMI has installed more than 45 PTS systems in the US to support both Personal and Commercial lines within the Insurance industry. In addition, IDMI has a services arm called Primoris Services (“Primoris”) that provides back-office services such as payment processing, print fulfillment and data hosting.
Led by Gary Martin and operating as a separate entity, IDMI will continue to serve its customers under the IDMI and Primoris brands with a strong management team in place.
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies enabling them to be clear leaders within their focused industry. Volaris companies provide specialized, mission-critical solutions to vertical markets around the world including Agri-Food, Asset Management and Logistics, Benefits Administration, Cultural Collections Management, Justice, People Transportation, Marine and Rental Management. Volaris is an operating group of Constellation Software Inc. Learn more at www.volarisgroup.com.
About Constellation Software Inc.
Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.
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