February 20, 2013 - TORONTO, ON
Volaris Group Inc. (“Volaris”) today announced that it 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). With this acquisition, Volaris continues forward with its expansion into the financial services marketplace with its first acquisition in the Insurance vertical.
IDMI’s flagship product, called PTS, is a policy administration system that provides insurers 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.
“The time was right to take our business to the next level. We had continually thought about the need to grow our business and realized we couldn’t do it without additional resources and the experience to move it forward,” said Gary Martin, President, IDMI. “When we met with the people at Volaris Group and learned more about their philosophy of investing in companies in vertical markets and helping them to grow, we knew Volaris was the right choice for our business, our customers and our employees.”
“We never sell any of our businesses. We invest in them for the long term because we see value in helping to make those good businesses even better,” said Mark Miller, CEO, Volaris Group. “We look forward to welcoming the IDMI team and working with them to grow their product and service offering to deliver exceptional solutions to their customers and the Insurance industry.”
Led by Martin and operating as a separate entity, IDMI continues 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.
For further information:
Tel: 905. 620.5297