Navarik is pleased to announce the acquisition of Maron Systems Ltd

Vancouver, British Columbia – June 9, 2023 – Vela Software Group (“Vela”), an operating group of Canadian public company Constellation Software Inc. (TSX:CSU) and its division Navarik are pleased to announce the acquisition of Maron Systems Ltd – an independent specialist software development company based in Wales, UK. Maron System’s clientele extends from major global corporations to national and regional organizations, providing oil accounting and shipping management solutions to the oil refining sector since 2003.  

As a reflection of Vela’s Investment Philosophy, Maron Systems will continue operating alongside Navarik. Joining the Vela family provides a strengthened network of support and access to cutting-edge development resources, ushering in the next phase of growth.  

William Cyr, CEO of Navarik states “We are pleased to welcome Maron Systems into the Vela family as we embark on this journey together. Maron’s customer-focused approach and deep industry knowledge, alongside Navarik’s software products will continue driving industry-forward solutions within the oil and gas industry. This is the beginning of an extraordinary journey as we continue reshaping the industry and delivering exceptional value to our customers.”  

About Vela. Vela is a global provider of software solutions to several vertical industries. Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries and to better serve their customers. We help companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position. 

About Navarik. Based in Vancouver, Canada, operates as a business unit within Vela, providing SaaS solutions for cargo inspection management focused on automation, standardization, and business intelligence necessary for companies to effectively identify oil loss claims, reduce off-spec cargos, speed deal settlement, and drive better inspection firm performance. Navarik will be responsible for overseeing Maron’s growth and development.