Vela Software Group (“Vela”), an operating group of Canadian public company Constellation Software Inc. (TSX:CSU) is pleased to announce it has acquired Navarik, based in Vancouver, British Columbia.
Navarik operates the industry standard SaaS platform for Cargo Inspection Management. The company’s platform provides the automation, standardization, and business intelligence necessary for companies to effectively identify oil loss claims, reduce off-spec cargos, speed deal settlement, and drive better inspection firm performance.
Going forward, Navarik will continue to operate as an independent business unit within Vela. Richard Halldearn, CEO of Navarik stated, “It was very important for Navarik to find the right partner to ensure our customers and employees were in good hands. We are excited to have Vela build on the software, branding, and people to further improve Navarik’s services. We believe that Vela’s valuable best practices and the financial backing of a large software company will greatly assist Navarik in realizing its full potential.”
“We are very excited to welcome the Navarik team into the Vela family. As an industry leader in cargo inspection and testing, inspection and certification Software we expect to continue their excellent customer advocacy and reputation under our ownership. Navarik expands our existing portfolio of upstream and mid-stream Oil and Gas production, into downstream.” said Gabor Czegledy, CEO, Portfolio Manager at Vela. “As always, we look forward to combining Navarik’s deep industry expertise with the Vela group’s financial strength and operational expertise in order to provide customers with industry-leading solutions.”
About Vela. Vela is a global provider of software solutions to several vertical industries. As an Operating Group of Constellation Software, Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries and to better serve their customers. We help companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.
