Constellation Software's Volaris Group Acquires Travis SoftwareM2 Communications
ENP Newswire - 02 January 2013
Release date- 31122012 - TORONTO, ON - Constellation Software Inc. ('Constellation') (TSX: CSU) today announced that its wholly owned division Volaris Group ('Volaris') has acquired the assets of Travis Software Corp. ('Travis'), a leading provider of employee health and benefits administration software.
The acquisition is Volaris' first investment in the Benefits Administration vertical market.
Travis was founded in 1986 shortly after the Consolidated Omnibus Budget Reconciliation Act (COBRA) gave workers and their families who lose employment-related health benefits the right to temporarily continue health coverage at group rates. The company's COBRA administration software solutions - WebCOBRA and TravisCOBRA - help to manage COBRA compliance and are used by more than 500 customers today throughout the United States. In addition, Travis also provides a suite of complementary software solutions for managing employee health and benefits including TravisFlex and TBILL.
'Travis Software is a great business,' said Mark Miller, CEO of Volaris Group. 'They are focused on delivering specific solutions to help companies address and manage the complexities involved in COBRA compliance and they have established a solid reputation in the marketplace. This focus and reputation positions them well for future growth and we look forward to supporting them with their goal of becoming a larger provider of enterprise wide health and benefits software.'
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, Cultural Collections Management, Justice, Marine, People Transportation and Rental Management. Volaris is an operating group of Constellation Software Inc. Learn more at www.volarisgroup.com or call 905.629.5297.
About Constellation Software Inc.
Constellation's common shares are listed on the Toronto Stock Exchange under the symbol 'CSU'. Constellation Software is an international provider of market leading software and services to a number of industries across both the public and private sectors. The Company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions. Further information about Constellation may be obtained from its website at www.csisoftware.com.
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