TORONTO, Ontario—An Italian company that produces software for the shipping industry has a new Canadian owner.
The Volaris Group operating division of Toronto, Ontario-based Constellation Software Inc has purchased SpecTec Holding Ltd, which is headquartered in La Spezia, Italy.
SpecTec offers remote asset management solutions and other software programs for the shipping industry. Among its products is AMOS, a a marine-focused enterprise suite for maintenance, spare parts and stock control, purchasing and procurement, quality and safety document management, voyage management and personnel management. SpecTec has offices in 15 countries worldwide.
Although Volaris owns other asset management and logistics businesses, this is the company’s first foray into the shipping industry.
“SpecTec is considered a market leader in marine-focused software and remote asset management solutions making them an ideal acquisition as we move into this vertical market,” said Volaris Group CEO Mark Miller.
So far this year, Constellation has purchased 19 separate businesses—including SpecTec—and has spent a total of $72 million to acquire them.