Premiums are paid following the likelihood of something bad happening. The greater the risk, the higher the premium. When choosing which software house to work with, their ownership should be essential in decision-making.
SSP has been providing insurance solutions for over 35 years. In 2021, it was acquired by the Volaris Group, a buy-and-hold acquirer of software businesses focusing on the long-term success of the companies and leaders who choose to join them. Volaris are different; they do not offer any products or services directly. They acquire software companies around the globe specialising in a niche vertical, i.e., companies that target a given industry, for example, insurance and help them to grow. Volaris have several portfolios to help categorise the companies they own; in the case of SSP, the company sits within Vencora, a global collective of technology companies passionate about changing the face of the financial services industry. At the time of writing, the Vencora portfolio comprises the following:
And it doesn't stop there. Constellation Software owns the Volaris Group, which owns several other companies like Volaris, with multiple portfolios. Constellation is listed on the Toronto Stock exchange with revenues exceeding USD 5 billion. Since being listed back in 2006, the growth of Constellation has been extremely impressive, so they could be the largest software company you've never heard of.
These are exciting times for SSP – its employees and customers can say with a very high degree of probability that they know who will be owning SSP this time next year, in 5 years and beyond. When you retain a company, the long-term decisions are based on long-term growth – which has been the fundamental reason for Constellation's continued success!
So, SSP is in safe hands. Watch out for more on SSP and Vencora soon.