Vela Software Acquires Financial Risk Solutions (“FRS”)

Vela Software acquires FRS, comprehensive Investment Administration Software solution provider for the life assurance and pensions industries.

Miami, FL – Dec 19, 2018 – Vela Software and its subsidiary Aquila Software (“Aquila”) announced the acquisition of Financial Risk Solutions (FRS). FRS is the developer of the Invest|ProTM product, a comprehensive Investment Administration Software solution for the life assurance and pensions industries.

“FRS is a tremendous team of individuals that due to their domain knowledge and close relationships with their clients have had great success in the market. All characteristics we value highly. We are excited to welcome them to the Aquila family and look forward to working closely with them” said Mike Byrne, CEO of Aquila.

He went on to say; “We know that the leadership at FRS have set high goals for themselves to achieve their vision and provide great value to their clients and we are happy to assist in that focus”.

Peter Caslin, CEO of FRS said; “This is superb news for clients and staff of FRS. The Aquila philosophy of ‘buy and hold forever’ and their financial strength were key factors for FRS in deciding to join Aquila. These characteristics will underpin the long-term relationships FRS has developed with its loyal blue-chip client base. As part of the Aquila family FRS will further develop its award-winning products and expand the software’s geographical reach. We are looking forward to working with the Aquila team.”

About Vela

Vela Software is a global provider of software solutions to a number of vertical industries. As an Operating Group of Constellation, Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries 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 Aquila Software

Aquila is focused on providing great solutions to Housing, Finance, Banking, Insurance, Higher Education, Travel & Public Sectors throughout North America and Europe. Aquila’s businesses focus on long-term relationships where our mission critical solutions evolve with our client’s business needs.

About FRS

FRS is a premier provider of unit-linked investment administration and fund accounting software for the life assurance and pensions industries. Founded in 1999, FRS has grown through solving complex problems for life and pensions companies.