Volaris Group Acquires Function Point Productivity Software
Function Point is pleased to announce its recent acquisition by Volaris Group, an operating group of Constellation Software Inc. (TSX: CSU).
Volaris is unique in that the company, while an acquirer, never sells its acquired businesses; it offers vertical market software companies the ability to achieve growth objectives while retaining independence and focusing on the needs of customers and employees.
This acquisition is a partnership aimed at strengthening Function Point’s presence within the productivity software market and enabling the business to grow – whether that growth comes through organic measures such as new initiatives and product development, day-to-day business, or through complementary acquisitions.
Over the last 2 decades Function Point’s successes have been led by Founder and CEO Chris Wilson. What started as a platform that automated pricing calculations, in 1997, soon grew to become an award-winning all-in-one web project management solution, enabling agencies to consistently deliver client work on time and on budget.
With the announcement of Chris’ retirement, the baton has now been passed on to Bobby Floujeh, the new CEO and President of Function Point. Bobby brings with him over 16 years of experience in the software industry, with his most recent stint at Trapeze software, another Volaris business unit.
Speaking about the acquisition, Bobby said, “What really differentiates Volaris Group from other acquisition firms is its ability to allow business units to run independently so they can maintain their entrepreneurial spirit. The unmatched advantage that Volaris business units like Function Point enjoy is access to many business leaders with tremendous amounts of experience, an internal best practice library, and a continuous exchange of industry knowledge. This is truly a competitive advantage for us.”
Since its aim is to never sell its business units, Volaris values and stresses the creation of long-term succession plans for each of its acquisitions. Moving forward, the goal is for both companies to work together to build on Function Point’s existing structure by developing talent, strengthening its core business, providing access to capital and resources, and ultimately reaching the next stage of sustainable growth.
Learn more about Volaris Group at www.volarisgroup.com.
About Function Point
Function Point alleviates the chaotic nature of operating creative agencies, internal marketing teams and professional service firms. Used by over 9000 customers across the world, the all-in-one solution helps teams connect each stage of agency and project management. Its mission has always been to develop a finance-first online agency management solution that empowers customers to quickly gauge the health of projects, help eliminate over-servicing, and maximize efficiencies with their clients.