Volaris Group kept M&A momentum high in 2022 during one of our most productive years as an acquirer. We added more than 30 new acquisitions from 14 countries, in new verticals such as data management, government administration, IT service management, marketing management, and risk management.
Growth through M&A continues to be a unifying theme across our portfolios. This year, our financial services portfolio hit a critical mass and rebranded as Vencora, with a view toward expanding its ecosystem of insurance, banking, and credit union technology businesses. Our communications and media portfolio, Lumine Group, also hit a milestone and announced plans to spin out as a separate, publicly traded company. We congratulate Vencora and Lumine on their success.
Acquisition remains at the heart of our business. We continue to build on our culture of learning by sharing best practices and offering opportunities for our portfolio companies to learn from each other.
We look forward to welcoming more businesses to Volaris in 2023 as we develop relationships with M&A advisors, founders, and business owners.
-Mark Miller, CEO, Volaris Group
Overview of 2022 acquisitions
Volaris is a highly active global software acquirer with a presence in more than 35 countries. Our broad acquisition criteria has led us to acquire companies representing different vertical markets, geographies, and technologies.
Click on the logos in the chart for more information on each company.
Trends and highlights from Volaris Group's 2022 acquisitions
Lumine Group plans spin out
Lumine Group, the communications and media portfolio that grew out of Volaris Group, announced plans to be spun out of Constellation Software and operate as a separate publicly traded company. The spin out will follow after a planned merger with WideOrbit, a U.S.-based media vertical market software provider. Lumine Group is expected to be listed on the TSX Venture Exchange in 2023, pending the acceptance of a final prospectus by the Canadian securities regulatory authorities. Read the press release.
Volaris expands its presence in the Nordic and DACH regions
Our acquisition success continued in the UK and Europe, where we made a total of 15 new acquisitions. Two notable regions that saw continued momentum were the Nordics, with 4 new acquisitions, and the DACH countries, with 3 new acquisitions.
Volaris gains new ground in Africa
We started the year by closing our acquisition of diversified software company Adapt IT, representing our first acquisition in the African continent. Later in the year, we made our first acquisition in Mauritius, also through Adapt IT.
Notable growth within verticals
Within the same year we introduced IT service management as a new vertical, we added 3 acquisitions in that market. Modaxo, our people transportation portfolio, also stood out in 2022 by closing 6 new acquisitions.
Get in touch
We are actively looking to develop relationships with owners of vertical market software businesses and M&A advisors. Do you own or represent a software company that could fit well with Volaris? Let’s start a conversation.