Tibersoft becomes autonomous business unit of a public company
New financial backing positions us for long term client innovation
Tibersoft has completed a transaction making it a fully owned, but independent operating company of CSI (TSX: CSU). This completed a search spanning many options for the company and I’d like to lay out the rational for why we chose this particular option more than just that it provides the optimal balance of value for clients, employees, and shareholders.
First a bit of housekeeping, our name and our team remains the same. We’re now part of the Volaris Operating Group.
The number one reason we chose CSI is the long term stability of the relationship. Unlike a more typical private equity buyer, CSI’s practice is to buy and hold companies for the long term. Tibersoft will now be able to make long term R&D investments that leverage and extend the OpTRADE database and Explore software platforms.
The second reason is the independent nature of the operating model. Instead of pursuing “synergies” – a word that definitely provokes a wide mix of reactions – we will be focused even more on our clients and solving their problems. In fact most profits, across the entire system, are redirected to product and market development projects.
Finally, because this relationship developed slowly over time, the Tibersoft team was able to ascertain that the Volaris management team isn’t just a winning team, they have the highest standards of personal integrity and, as we began to complete each other’s sentences, concluded that they are just…good people.
I have so many people to thank for our evolution to this level. The first group is most definitely the Tibersoft Teams, from Dev & QA, to Implementation and Support, who have ‘upped their game’ in so many ways over the past 36 months. I’d like to thank the core client supporters – you know who you are! Your collective leadership is transforming your organizations go to market capabilities and your industry into a more directed and high performance delivery channel for providing operator and distributor value.
Enough for now. We’re eager to get back to it. Please don’t hesitate to contact me with any questions. Aside from the usual public company disclosure rules, I can expand on any of the points above.