TORONTO, April 8, 2024—(BUSINESS WIRE)–Today Securian Canada Inc. is pleased to announce that Perseus Group Software Corp. (“Perseus”), which is part of Constellation Software Inc., was acquired by Valeyo Inc. (“Valeyo”) and its loan origination software (LOS) business.
In February 2023, Valeyo partnered with Canada’s Premier Life and Sun Life’s Sponsored Markets business to become Securian Canada (Canada’s leading insurance provider of innovative life insurance solutions) – one organization under one brand. Securian Canada, together with its American parent company, Securian Financial, is a leading insurance provider in the financial institutions market.
The Valeyo brand will be maintained under Perseus, and the team is committed to supporting the long-term credit needs of the credit union industry. Valeo’s insurance business will be retained by Securian Canada, and clients will continue to receive exceptional service. Moving forward, the two organizations will work closely together to deliver combined and enhanced insurance and technology solutions to existing and new customers in the credit union market.
“Securian Canada made this decision in line with our broader strategy of serving our core markets with leading insurance and technology solutions through integrated, trusted partnerships. We believe Perseus Group is a fantastic fit for the Valeyo team with the right core technology capabilities to deliver the best value for our shared clients. Working closely together, Securian Canada will focus on insurance product innovation and delivery, while Valeyo and Perseus will together bring expanded resources and expertise to the market. We are confident that we have increased opportunities to innovate our markets, which is why today’s move is truly positive for our organization,” said Nigel Branker, CEO of Securian Canada.
“We are excited to welcome the Valeyo team to the Perseus family. This strategic move reflects our continued commitment to the growth of the financial services software industry,” said Alvin Lau, President, Financial Solutions Group. “We are optimistic about the opportunities this acquisition brings and are excited about the positive impact it will have on our continued expansion,” said Mitchell Francis, president of Constellation Financial Software.
The terms of the deal were not disclosed.
About Securian Canada
We are here for all Canadians and their families — however they define family. Our practical, lifetime insurance and protection solutions are designed to help provide financial security, so Canadians can spend more time making every moment count.
For more than 65 years, we’ve been giving Canadians the confidence to face life’s uncertainties. Today, Securian Canada combines strong local roots and expertise, a North American footprint and a global perspective — all while innovating at the speed the markets we serve expect.
Together with our American parent company — Securian Financial — we offer insurance solutions and build them with true care, providing specialized experiences to those we serve.
For more information, visit securiancanada.ca
Securian Canada is a brand used by Canadian Premier Life Insurance Company and Canadian Premier General Insurance Company for business in Canada. The policies were underwritten by Canada’s Premier Life Insurance Company.
About Perseus Group Software Corp.
Perseus Group Software Corp. acquires and invests in software companies that provide critical solutions for the industries they serve, and is part of the Andromeda portfolio of vertical market software (VMS) companies within Constellation Software Inc.’s Perseus operating group.
For more information, visit https://csiperseus.com
See the original version on businesswire.com: https://www.businesswire.com/news/home/20240405187531/en/
Contacts
For media inquiries, contact:
Heather MacDonald
Director of Marketing and Communications
Securian Canada
437-677-8010
[email protected]
Darcy Brooks
Senior Marketing Manager
Constellation financial software
[email protected]