2024 Mid-Year Acquisition Update

July 11, 2024

During the first half of 2024, Volaris Group has completed 19 new acquisitions across a dozen countries, and we're just getting started. This year we welcomed new CEO Mike Dufton, saw Lumine Group complete its largest carve-out acquisition to date, held unique learning events all over the world, and launched Omegro, the latest brand to emerge from Volaris Group’s culture of decentralization.

Acquisition remains at the heart of our business, and we look forward to welcoming more companies to Volaris in the second half of the year.

Overview of 2024 Acquisitions Year-to-Date

As an active acquirer of software globally, we’re proud to have businesses in more than 50 countries worldwide. Given our expansive acquisition criteria, the companies who choose to join us vary widely in terms of market focus, geography, and technological offering.
Click on the logos in the chart below for more information on each company we've acquired this year.

Highlights From the First Half of 2024

Completing Large Corporate Carve-Out Acquisitions

In April, Lumine Group, the now-publicly traded communications and media portfolio that was founded within Volaris Group, completed the approximately €185 million purchase of Nokia's Device Management and Service Management Platform businesses. This marked Lumine Group’s second carve-out transaction with Nokia.

Following its carve-out of Nokia’s device and service management business, Lumine Group has created a stand-alone pure-play technology company called Motive, restoring and re-energizing the company’s original founding brand. With more than a hundred top-tier customers worldwide, hundreds of thousands of device models recognized, and billions of endpoints under administration, Motive uniquely has the scale, expertise, and experience required to lead the device and service management market.

David Sharpley, CEO at Motive, said: “We are proud to announce the rebirth and reinvigoration of the Motive brand, with a focus on innovating in growth areas within the device and service management industry. Motive’s mission is to help our customers grow revenue faster, while automating their customer experience across all engagement channels.”

In May, Modaxo, Volaris Group's people transportation portfolio, acquired the Curbside Management and Public Safety businesses from Conduent Incorporated. The acquisition expanded Modaxo’s offering in the Traffic Management sector and marked the launch of two new business brands: Elovate and Trellint.

Elovate, the former Public Safety business, focuses on automated traffic enforcement solutions helping cities improve safety and compliance. Trellint, the former Curbside Management business, provides comprehensive parking and curbside management solutions that make the curb easy to use and accessible to all.

“With Elovate and Trellint we are creating two powerful new brands to address critical needs in the parking and traffic enforcement landscape,” said Rod Jones, Head of Americas and Australia/New Zealand with Modaxo. “We invest in companies and people for the long term, and are thrilled to welcome new clients and team members to Modaxo.”

Volaris Group Welcomes New CEO Mike Dufton

In January, Volaris Group announced changes to its executive team, building out its senior leadership ranks to position Volaris for future growth and scale. Former CEO Mark Miller transitioned to the newly created role of Executive Chairman, where he will continue to oversee the Volaris Operating Group on behalf of our parent company, Constellation Software. Mark will also continue as a Director and Chief Operating Officer of Constellation, and remain Chairman of Lumine Group. Additionally, Modaxo, Volaris Group’s people transport division, will continue to report to Mark.

“2023 was another important year of growth for Volaris,” said Mark Miller, Executive Chairman of Volaris Group. “As we looked at ways to sustain our pace of acquisition activity and organic growth, while taking on projects such as the recent spin-out of Lumine Group and continued growth of the Modaxo portfolio, we saw a need to build out our executive team.”

Mike Dufton was appointed as Volaris Group CEO after previously serving as the Managing Director of the Dufton portfolio inside Volaris Group. Dufton will also continue as CEO of Vencora, Volaris Group’s financial services division, which was created under his leadership in 2022.

“The Volaris Group model is built on a foundation of continuous learning, growth and development and I am excited to add my passion and expertise to this cause,” said Mike Dufton, newly appointed Volaris Group CEO. “I have been personally involved in the Volaris Group story for more than a decade now and I continue to be inspired by the great work that our teams are doing to acquire and grow great software businesses. Sustaining this legacy and helping enable our leaders in their work will be my number one objective.”

Volaris Group Launches Omegro

In June, Volaris announced the creation of Omegro, our newest branded portfolio focused on a wide range of software applications, such as warehousing and inventory control, ERP & CRM, fleet and logistics management, asset maintenance and process automation. Omegro is home to more than 30 business units representing over 2,000 employees, operating from 40 offices and serving more than 15,000 customers in more than 70 countries around the world.

Kevin Bradley and Troy O’Connor were named co-CEOs. Bradley has spent his career leading successful software businesses across multiple sectors including financial services, supply chain and FMCG . He joined Volaris through the acquisition of Wellington IT and has acquired and grown multiple businesses since, becoming an expert on the best practices required to run a world-class software business.

“Omegro’s operational expertise, global reach, and commitment to talent development make it a great home for software companies,” Bradley said. “We recognize that each business we acquire has spent many years to build their own unique culture, and as a culture of cultures, we want to protect that; we want to grow that, and we want to retain that brand identity within the wider family of Omegro.”

O'Connor’s 25-year career in the software industry started in consulting and includes more than a decade as the co-founder of a software business. He joined Volaris in 2017 via the acquisition of Smartrak, where he was the CEO. Smartrak remains an Omegro portfolio company today. During his time at Volaris, O'Connor has held senior roles across both operations and M&A that have included leading numerous acquisitions of Omegro portfolio companies.

“Omegro provides founders and professional CEOs a permanent and safe home where they can continue their legacy and commitment to a journey of continuous improvement in their people and their businesses,” O’Connor said. “As we never sell a business, we are able to support permanent growth that is repeatable over the long term.”

Volaris Group Portfolios Investing In Talent Development

In April, the leadership of Brazil-based Volaris companies from the Latam Iberia portfolio gathered for LEAD LATAM, our first week-long training event held in the region. Content was delivered in Spanish, Portuguese, and English by a diverse group of Volaris executives. Much of the subject matter was adapted from Volaris 101, our global program designed to provide employees and leaders a solid foundation in Volaris culture and access to the tools they need to grow their business. Nearly 100 leaders from across the region were given insights into Volaris strategy in key functional areas, learned more about the functional metrics used to evaluate each business, and gained access to best practices from more than 200 software companies around the world. Check out Group Leader Henrique Barreto's post to learn more.

In May, the DeSilvester portfolio hosted its Sales & Marketing Summit in Prague. Drawing attendees from diverse regions including North America, Europe, and Asia, this internal knowledge-sharing summit gathered 60+ Sales & Marketing leaders from across the portfolio. The primary objective of this summit is two-fold: address mutual challenges and unveil proven strategies, while building a collaborative network of connections. The sessions and workshops equipped attendees with actionable insights and practical tools for success. Armed with a network of like-minded peers and tangible assets, attendees testified to their readiness to drive innovation and growth within their organizations, solidifying the summit's role as a catalyst for growth. Read the full story to learn more about what was covered at the event.

In June, the Smith portfolio hosted its General Manager Summit in Beaver Creek, Colorado, gathering business leaders from around the world for a strategic exchange aimed at driving business growth into 2024 and beyond. The key thought for the event was "Learn, Share, Connect." Leaders explored innovative solutions and collaborative strategies to navigate the current market and shared best practices that help to enhance growth and operational efficiencies. Discussions centered on deepening customer relationships and optimizing experiences, ensuring we deliver unparalleled value and service excellence. Check out Group Manager Ricardo Pinho's post to hear about the event firsthand.