Atex takes off for growth with new Canadian owner

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Systems developer Atex Group has a new owner, but not the Italian company which announced its purchase in June.

Marketing director Camillo Vezzoli tells us there's excitement about the "summer twist" which has seen Atex acquired by Vela Software, an investor part of Canadian group Constellation Software (CSI).

Atex has not made any statement about the previous deal, but - as we reported earlier - Italian internet company Axélero was to have completed in July.

Headquartered in Toronto and traded on Toronto Stock Exchange, CSI holds a portfolio of different software companies throughout the world, but Atex will be its first investment in the media industry.

Welcoming employees and customers of Atex to Vela, chief executive John Billowits said the company was "excited by the opportunity to build on the new products and services that they have invested in".

Atex chief executive Anders Christiansen says the companies share a common view on the potential of the media industry, "where focus on new technology and strong service offerings will help media companies with their digital transition.

"We look forward to developing and delivering great software solutions to new and existing customers around the world."

Atex will continue to operate as a separate business with the existing Atex management team in place, and Anders Christiansen (achristiansen@atex.com) and the Atex management team are available to answer further questions.

CSI has a reputation for investing only in software companies for vertical markets as an industrial partner - acquiring to grow, not sell. "We're quite excited about the change," says Vezzoli.

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