Kingsway Announces Strategic Acquisition of Viewpoint by SPI Software
Kingsway Financial Services has announced that its subsidiary SPI Software has acquired ViewPoint, a cloud-native timeshare software company based in Mount Waverley, Australia, from RCI Pacific.
The strategic acquisition creates a global leader in vacation ownership software, combining SPI Software's established presence with ViewPoint's cloud-based solutions. The merger aims to accelerate product development and expand geographic reach in the vacation ownership software market.
Drew Richard, President of SPI Software, emphasized the complementary nature of both companies' offerings and their shared commitment to customer support. JT Fitzgerald, Kingsway's President and CEO, noted that SPI Software has achieved Rule-of-40 status through investments in products, people, and customer experience.
The transaction is immediately accretive to Kingsway's Adjusted EBITDA, though specific financial terms were not disclosed.
Kingsway Financial Services ha annunciato che la sua controllata SPI Software ha acquisito ViewPoint, un'azienda australiana di software timeshare cloud-native con sede a Mount Waverley, da RCI Pacific.
Questa acquisizione strategica crea un leader globale nel settore del software per la proprietà vacanziera, unendo la presenza consolidata di SPI Software alle soluzioni cloud di ViewPoint. La fusione punta ad accelerare lo sviluppo dei prodotti e ad ampliare la presenza geografica nel mercato del software per la proprietà vacanziera.
Drew Richard, presidente di SPI Software, ha sottolineato la natura complementare delle offerte di entrambe le aziende e il loro comune impegno nel supporto clienti. JT Fitzgerald, presidente e CEO di Kingsway, ha evidenziato che SPI Software ha raggiunto lo status Rule-of-40 grazie agli investimenti in prodotti, personale e esperienza cliente.
L'operazione contribuisce immediatamente all'EBITDA rettificato di Kingsway, anche se i dettagli finanziari specifici non sono stati resi noti.
Kingsway Financial Services ha anunciado que su subsidiaria SPI Software ha adquirido ViewPoint, una empresa australiana de software timeshare nativa de la nube con sede en Mount Waverley, de RCI Pacific.
Esta adquisición estratégica crea un líder global en software para propiedad vacacional, combinando la presencia consolidada de SPI Software con las soluciones basadas en la nube de ViewPoint. La fusión busca acelerar el desarrollo de productos y expandir el alcance geográfico en el mercado de software para propiedad vacacional.
Drew Richard, presidente de SPI Software, destacó la naturaleza complementaria de las ofertas de ambas compañías y su compromiso compartido con el soporte al cliente. JT Fitzgerald, presidente y CEO de Kingsway, señaló que SPI Software ha alcanzado el estatus Rule-of-40 gracias a inversiones en productos, personal y experiencia del cliente.
La transacción contribuye de inmediato al EBITDA ajustado de Kingsway, aunque no se revelaron los términos financieros específicos.
Kingsway Financial Services는 자회사인 SPI Software가 RCI Pacific으로부터 호주 Mount Waverley에 본사를 둔 클라우드 네이티브 타임쉐어 소프트웨어 회사 ViewPoint를 인수했다고 발표했습니다.
이번 전략적 인수로 SPI Software의 기존 입지와 ViewPoint의 클라우드 기반 솔루션이 결합되어 휴가 소유권 소프트웨어 분야의 글로벌 리더가 탄생했습니다. 이번 합병은 제품 개발 가속화와 휴가 소유권 소프트웨어 시장에서의 지리적 확장을 목표로 합니다.
SPI Software의 사장 Drew Richard는 양사의 제품이 상호 보완적이며 고객 지원에 대한 공동의 헌신을 강조했습니다. Kingsway의 사장 겸 CEO인 JT Fitzgerald는 SPI Software가 제품, 인력 및 고객 경험에 대한 투자를 통해 Rule-of-40 지위를 달성했다고 언급했습니다.
이번 거래는 Kingsway의 조정 EBITDA에 즉시 긍정적인 영향을 미치지만 구체적인 재무 조건은 공개되지 않았습니다.
Kingsway Financial Services a annoncé que sa filiale SPI Software a acquis ViewPoint, une entreprise australienne de logiciels timeshare cloud-native basée à Mount Waverley, auprès de RCI Pacific.
Cette acquisition stratégique crée un leader mondial des logiciels de propriété de vacances, combinant la présence établie de SPI Software avec les solutions cloud de ViewPoint. La fusion vise à accélérer le développement des produits et à étendre la portée géographique sur le marché des logiciels de propriété de vacances.
Drew Richard, président de SPI Software, a souligné la complémentarité des offres des deux entreprises et leur engagement commun envers le support client. JT Fitzgerald, président et CEO de Kingsway, a noté que SPI Software a atteint le statut Rule-of-40 grâce à des investissements dans les produits, les équipes et l'expérience client.
La transaction est immédiatement bénéfique pour l'EBITDA ajusté de Kingsway, bien que les détails financiers spécifiques n'aient pas été divulgués.
Kingsway Financial Services hat bekannt gegeben, dass seine Tochtergesellschaft SPI Software ViewPoint, ein cloud-natives Timeshare-Softwareunternehmen mit Sitz in Mount Waverley, Australien, von RCI Pacific übernommen hat.
Die strategische Übernahme schafft einen globalen Marktführer im Bereich der Software für Eigentumsferien, indem die etablierte Präsenz von SPI Software mit den cloudbasierten Lösungen von ViewPoint kombiniert wird. Die Fusion zielt darauf ab, die Produktentwicklung zu beschleunigen und die geografische Reichweite im Markt für Eigentumsferien-Software zu erweitern.
Drew Richard, Präsident von SPI Software, betonte die komplementäre Natur der Angebote beider Unternehmen und ihr gemeinsames Engagement für den Kundensupport. JT Fitzgerald, Präsident und CEO von Kingsway, stellte fest, dass SPI Software durch Investitionen in Produkte, Personal und Kundenerfahrung den Rule-of-40-Status erreicht hat.
Die Transaktion wirkt sich sofort positiv auf das bereinigte EBITDA von Kingsway aus, obwohl keine spezifischen finanziellen Details bekannt gegeben wurden.
- Strategic acquisition expands global market presence in vacation ownership software
- Transaction is immediately accretive to Kingsway's Adjusted EBITDA
- SPI Software has achieved Rule-of-40 status, indicating strong business performance
- Acquisition provides access to cloud-native technology through ViewPoint
- Complementary offerings enable product roadmap acceleration
- Financial terms of the acquisition not disclosed, limiting investor assessment
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Insights
Kingsway's acquisition of ViewPoint strengthens SPI Software's market position and is immediately accretive to EBITDA, signaling strategic expansion in vacation ownership software.
Kingsway Financial Services (NYSE:KFS) has executed a strategic acquisition through its subsidiary SPI Software, purchasing Australian-based @Work International Pty Ltd (ViewPoint) from RCI Pacific. This transaction represents a significant expansion of SPI Software's geographic footprint and product capabilities in the vacation ownership software market.
The deal presents several positive financial indicators. Most notably, it's immediately accretive to Kingsway's Adjusted EBITDA, suggesting positive financial impact from day one without a dilutive integration period. While financial terms weren't disclosed, hampering complete evaluation of the transaction's magnitude, the accretive nature signals prudent financial structuring.
Strategic rationale for the acquisition appears sound. SPI Software has achieved Rule-of-40 status (where combined growth rate and profit margin exceed 40%), indicating strong operational performance before this expansion. The complementary offerings between both platforms should enable the combined entity to accelerate product development and capitalize on new geographic markets.
This transaction aligns perfectly with Kingsway's business model as "the only publicly-traded US company employing the Search Fund model to acquire and build great businesses." By expanding its Vertical Market Solutions software platform, Kingsway continues executing on its core strategy of targeted acquisitions to build value.
The ViewPoint acquisition creates a global vacation ownership software leader, providing complementary cloud capabilities and opening significant cross-selling opportunities.
This acquisition strategically positions SPI Software as a dominant player in the vacation ownership software ecosystem. By acquiring ViewPoint, a cloud-native timeshare platform from Australia, SPI gains not just geographic expansion but critical cloud-based infrastructure that complements its existing solutions.
The technology synergies are particularly compelling. ViewPoint's cloud-native architecture will likely accelerate SPI's digital transformation initiatives, while SPI's established market presence provides immediate scale for ViewPoint's technology. The complementary nature of their offerings suggests minimal product overlap, increasing the probability of successful integration.
The global expansion dimension is significant. Vacation ownership is inherently international, and having technology platforms that can operate across jurisdictions provides competitive advantages. The combination creates opportunities for cross-selling to each other's client bases across different regions.
Industry consolidation in vertical-specific software has been accelerating, with cloud-native platforms commanding premium valuations. This acquisition follows that pattern, with Kingsway securing a specialized cloud platform that strengthens its recurring revenue profile. The fact that this deal is immediately accretive to Adjusted EBITDA suggests disciplined valuation parameters were applied, avoiding the premium multiples often associated with cloud software acquisitions.
Combination Creates Global Leader in Vacation Ownership Software
CHICAGO, ILLINOIS / ACCESS Newswire / April 30, 2025 / (NYSE:KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model to acquire and build great businesses, today announced that its wholly-owned subsidiary Systems Products International Inc. ("SPI Software"), a leading provider of vacation ownership software, has acquired @Work International Pty Ltd ("ViewPoint"), a cloud native timeshare software firm headquartered in Mount Waverley, Australia, from RCI Pacific.
The acquisition advances SPI Software's leadership in the vacation ownership software market and positions the company to serve an even broader global client base with innovative, cloud-based solutions.
"I am pleased to welcome ViewPoint's employees, customers, and partners to the SPI Software family," said Drew Richard, President of SPI Software. "SPI Software and ViewPoint are a wonderful strategic fit given our highly complementary offerings. I am confident that by bringing the two firms together we can accelerate our collective product roadmap and capitalize on exciting new opportunities for geographic and market expansion. Importantly, SPI Software and ViewPoint share a commitment to outstanding customer relationships and support, which will remain a top priority going forward."
"Under Drew's leadership, SPI Software has achieved Rule-of-40 status by investing in its product, its people, and its customer experience," said JT Fitzgerald, Kingsway's President and CEO. "Kingsway is thrilled to continue supporting Drew as he adds a second company to the Vertical Market Solutions software platform under the Kingsway Search Xcelerator."
The transaction is immediately accretive to Kingsway's Adjusted EBITDA. Financial terms were not disclosed.
About the Company
Kingsway Financial Services Inc. ("Kingsway") (NYSE:KFS) is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.
Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.
About SPI Software
SPI Software is a leading provider of software, technology, and business services solutions for the vacation ownership industry. With a focus on innovation and customer satisfaction, SPI empowers resorts and vacation clubs to streamline operations, enhance the member experience, and drive revenue growth. For more information, visit www.spisoftware.com.
Additional Information
Additional information about Kingsway, including a copy of its Annual Reports, can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.
For Media Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.com
For Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.com
For SPI Software Inquiries:
Systems Products International Inc.
Drew Richard, President
(305) 209-1408
drew.richard@spiinc.com
SOURCE: Kingsway Financial Services, Inc.
View the original press release on ACCESS Newswire
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