Montréal-based Valsoft Corporation has acquired Québec City-based dental practice management software company Progitek for an undisclosed amount.
The deal marks Valsoft’s sixth acquisition since securing $229 million CAD ($170 million USD) in growth financing to expand its portfolio in January.
Founded by company president Éric Vézina in 1995, Progitek provides a software platform aimed at helping dentists go paperless and manage their clinics. The platform allows users to manage appointments, collect invoices, create treatment plans, and create dental plans among other features.
Valsoft said the Progitek acquisition is its fifth in the health and dental sector, and that Progitek will work with Aspire Software, Valsoft’s operating arm, to strengthen its market presence and enhance its products and services.
“Access to new specialized resources and the best management tools on the market will make us even more efficient at all levels,” Vézina said in a statement. “Thanks to [Valsoft’s] expertise in IT, our new partner will help modernize our Dentitek management software and develop new products that will soon be on the market.”
Valsoft said in a statement that Vézina will continue leading the company following the acquisition.
Founded in 2015 by CEO Sam Youssef and Steph Manos, Valsoft acquires and develops vertical-market software companies, much like Toronto-based Constellation Software. Valsoft’s portfolio includes companies in over 40 verticals, including information technology, retail and point of sale, aviation, education, transportation and logistics.
When a business is acquired by Valsoft, it continues to operate as it did before but with additional support and expertise from Valsoft’s network.
Youssef and Manos previously founded the embattled parent company of Pornhub and other adult websites, MindGeek. Youssef told the Montréal Gazette last year that he “got out of the business” in 2008 and sold his stake in 2010.
RELATED: Software acquirer Valsoft closes $229 million CAD in growth financing
Valsoft claimed in a statement following its financing round in January that it had more than doubled its business over the last two years and is entering a new phase of growth. A Valsoft spokesperson also confirmed at the time that the firm planned to grow by over 50 percent in the next year or two ahead of a potential initial public offering.
Since then, Valsoft has acquired six companies including Progitek. Valsoft kicked off 2024 by acquiring Australian HR tech firm Easy Employer for an undisclosed amount at the end of January. Easy Employer’s platform is geared towards careworking and retail environments and includes tools for staff management, timesheet management, and payroll solutions.
In March, Valsoft acquired San Diego-based The Digital Office Software which provides practice management software for endodontists, a specific kind of dental specialist, and Servico, a Belgian enterprise resource planning platform for the travel industry. In April, Valsoft purchased White Plains, New York-based sales management software firm WeSuite and finally Montréal-based Trendex Information Systems, which specializes in accounting software for gasses and welding supplies distributors.
Feature image courtesy of Valsoft via Twitter.