From Corporate Carve-Out to Customer-Led Growth: Bravura Security’s Journey with Volaris Group

Dana Mikaylo

Headquarters: Calgary, Alberta, Canada
Acquisition Date: September 2022
Vertical Market: Security
Website: https://www.bravurasecurity.com

Bravura Security has spent more than three decades helping large enterprises protect their identities, credentials, systems, and sensitive information. Its integrated identity security platform brings together identity and access management, privileged access, and password management.

Previously known as Hitachi ID Systems, the company joined Volaris Group in September 2022 and was renamed Bravura Security. The acquisition gave the business a new identity, a permanent home, and access to an experienced network of software operators focused on sustainable, long-term growth.

Today, Bravura Security is led by General Manager Bart Allan, whose own professional journey reflects the leadership opportunities available within Volaris. During more than 11 years with the company, Bart progressed from solution architect to leadership roles in professional services and customer success before ultimately taking responsibility for the entire business.

A Strong Business in Need of Greater Strategic Focus

Bravura Security was originally founded as M-Tech Information Technology. Hitachi acquired a majority stake in the company in 2008 before purchasing the remaining shares in 2020.

For several years, Hitachi provided the business with the credibility and global recognition of a large international brand. Over time, however, the strategic alignment between the two organizations became less clear.

Hitachi’s core business was primarily focused on hardware and storage solutions, while Bravura Security operated within the specialized enterprise software and cybersecurity market. Although there were potential connections between Hitachi’s biometric hardware and Bravura Security’s identity management technology, the anticipated commercial synergies did not develop as expected.

The business was largely able to operate independently, but it had limited access to software-specific guidance, collaboration, and reinvestment support. When growth began to slow and certain legacy product markets started to change, Hitachi determined that the company would be better positioned under a different owner.

Hitachi was a good home for a period of time and the brand recognition was valuable. But the support largely stopped there. We didn’t have access to a network that could help us work through the challenges we were facing.

– Bart Allan, General Manager, Bravura Security

Finding the Right Long-Term Home

The sale process introduced Bravura Security’s leadership team to several potential acquirers, each with a significantly different vision for the company.

One potential buyer appeared focused primarily on reducing costs and operating the company for margin. Another had a more strategic product vision but was unable to reach terms that aligned with the transaction Hitachi wanted to complete.
Volaris offered a different path.

Its permanent buy-and-hold philosophy meant Bravura Security would not be acquired, restructured for a short-term return, and sold again. The company could retain its identity, preserve its experienced team, and continue operating within its specialized market while gaining access to operational expertise and financial stability.

For Bart and the rest of the leadership team, protecting Bravura Security’s people was one of the most important considerations.

What’s behind software is people. We wanted to make sure we could keep and protect our most important asset, which was our team. The opportunity to find a long-term home that would work with the existing leadership group was a major differentiator.

– Bart Allan, General Manager, Bravura Security

As a Canadian-based business, Bravura Security’s leadership team also welcomed the opportunity to join a Canadian acquirer. The shared cultural understanding helped create confidence that the two organizations could build a productive long-term relationship.

Due Diligence That Looked Beyond the Numbers

Bart’s first direct exposure to Volaris came during the due diligence process. Over several days, the Volaris team asked detailed questions about the company’s operations, performance, customers, and internal challenges.

Rather than avoiding difficult subjects, the team identified issues Bart and his colleagues had recognized but had not always been able to define or address.

The experience gave Bart an early indication that Volaris understood how to operate vertical market software businesses and could offer more than financial ownership.

The questions were refreshing because they tackled challenges in the business head-on. These were issues we knew existed, but we had never fully named them or put an action plan in place. My first impression was that this was a team that had done this before and could help us move forward.

– Bart Allan, General Manager, Bravura Security

Autonomy Supported by Greater Accountability

Bravura Security entered the acquisition knowing that important operational decisions would need to be made. The business required a clearer performance framework, stronger alignment across its functions, and a more customer-focused product strategy.

One of Volaris’ most important commitments was that the people operating the business would remain involved in making those decisions.

That autonomy did not mean avoiding difficult conversations. Volaris leaders challenged assumptions, introduced benchmarks, and encouraged the team to evaluate the long-term consequences of its decisions. Responsibility for determining what was right for Bravura Security, however, remained with its operating leaders.

Volaris has never moved away from the principle that it is ultimately up to the people operating the business to make the decisions that are best for the business.

– Bart Allan, General Manager, Bravura Security

The initial integration was not without challenges. The timing of multiple acquisitions and limited integration resources meant that some areas of the business adopted Volaris’s operating practices faster than others.

A renewed integration effort subsequently helped clarify expectations, strengthen functional alignment, and redirect the product roadmap toward customer needs. While Bart acknowledges that reaching this point took longer than anticipated, he believes the business now has a much stronger foundation.

A Network of Operators Who Have Faced Similar Challenges

Bravura Security joined Volaris shortly before the 2022 Quadrants conference in London, giving the leadership team an immediate introduction to the broader Volaris community.

For Bart, one of the most valuable aspects of the network was the ability to speak candidly with leaders who had already faced similar operational challenges. Instead of developing every solution independently, Bravura Security could learn from proven approaches used across other software businesses.

These conversations extended beyond formal events. Bart developed relationships with experienced operators who shared templates, forecasting practices, professional services processes, and practical advice.

At Quadrants, it felt a little like professional speed dating. You could explain a problem in 15 minutes, and someone else could tell you how they had addressed the same issue. The relationships continued afterward, and having experienced operators available as sounding boards was extremely helpful.

– Bart Allan, General Manager, Bravura Security

Access to shared benchmarks has also helped establish clearer performance expectations. As a metrics-driven leader, Bart values having objective measures that provide the business with a consistent north star.

The contrast with Bravura Security’s previous ownership experience has been significant. Leaders are encouraged to identify challenges, ask for assistance, and learn from their peers.

Creating New Leadership Opportunities

The acquisition has also created new possibilities for Bart’s own career.

He joined Bravura Security as a solution architect, working directly with customers on implementations, upgrades, and product enhancements. He later became a professional services team lead and director before moving into a senior customer success role.

Bart’s extensive customer experience gave him a detailed understanding of Bravura Security’s technology and the needs of its largest clients. It also helped him establish credibility when he moved into broader leadership roles.

Although Bart originally envisioned pursuing a more technical executive position, his ambitions evolved as he gained experience across the business. He became Chief Operating Officer (COO) in 2023 and stepped into the General Manager role in 2025.

His progression demonstrates how Volaris’s decentralized operating model can create leadership pathways for people who already possess deep institutional, customer, and market knowledge.

Rebuilding the Roadmap Around Customer Priorities

With a stronger operating foundation in place, Bravura Security has turned its attention toward product modernization and customer-led innovation.

In early 2026, the company introduced Bravura Security Fabric 12.9, which included a substantially modernized user experience for technology that has been evolving for more than three decades. Updating the user interface had consistently been one of the company’s most common customer requests.

The positive response provided an early indication that the roadmap was moving in the right direction.

This was the first release in a long time where customers immediately asked, “When can I get upgraded?” That was an exciting moment for the team.

– Bart Allan, General Manager, Bravura Security

The roadmap also includes a refreshed Bravura Safe offering designed to support customers who require on-premises or private-cloud deployment options. This flexibility is particularly relevant for Bravura Security’s customers in highly regulated industries.

Project Insight, a new reporting and analytics capability, is also expected to address another major customer priority by providing clearer, more actionable information.

Looking further ahead, the team plans to reinvigorate its privileged access offering while exploring one of the cybersecurity industry’s emerging challenges: managing agentic and non-human identities created by artificial intelligence.

AI is helping the team accelerate certain areas of product development, but it is also reshaping the identity security problems customers need Bravura Security to solve.

What Bravura Security Learned from the M&A Process

Looking back, Bart believes greater visibility into the complete integration plan before closing would have helped the leadership team prepare for the amount of change ahead.

The plan may initially have appeared daunting, but understanding the full journey earlier could have helped the team establish expectations and adopt new operating practices more quickly.

It is a practical lesson for other professional managers approaching an acquisition: the transaction is only the beginning. Leaders should spend time understanding how the new owner operates, what integration will require, and how success will be measured after closing.

A Permanent Platform for the Next Stage of Growth

Bravura Security’s journey illustrates that permanent ownership does not mean operating without change. It means making changes with a long-term purpose.

Since joining Volaris, the company has strengthened its operating discipline, expanded its access to experienced software leaders, created new internal leadership opportunities, and developed a product roadmap more closely aligned with customer priorities.

Most importantly, Bravura Security has retained the people, expertise, and market knowledge that have defined the business for more than three decades.

With a permanent owner, clearer performance expectations, and renewed momentum around its products, Bravura Security is positioned to continue helping enterprises address both today’s identity security risks and the emerging challenges of an AI-enabled future.

Key Takeaways

  • Volaris Group’s permanent buy-and-hold model provided Bravura Security with a long-term home that protected its team and identity.
  • Due diligence demonstrated Volaris’s willingness to confront operational challenges and develop practical action plans.
  • Access to benchmarks, best practices, and experienced software operators accelerated problem-solving across the business.
  • A renewed integration effort strengthened accountability and brought greater customer focus to the product roadmap.
  • Bravura Security is investing in product modernization, analytics, privileged access, and solutions for emerging agentic identity risks.
  • Bart Allan’s progression from solution architect to General Manager reflects the leadership development opportunities available within Volaris.

About the Author

Dana Mikaylo
Dana Mikaylo is the Director of Marketing for Volaris Group's Bruce Portfolio, where she leads M&A marketing activities. She has been with Volaris for seven years, including five years on the corporate marketing team. Previously, she managed marketing operations at Microsoft Canada, enabling marketers to execute strategic global campaigns.
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