Vela Software acquires ProArc unit of Tieto Oyj, a leading software provider of technical document management solutions to the engineering & construction industry.
Toronto, ON, Canada – Jan 31, 2018 – Vela Software has acquired ProArc unit of Tieto Oyj, a leading software provider of technical document management software to the engineering & construction industry.
John Billowits, CEO of Vela: “ProArc is the leading provider of technical document management software serving Engineering & Construction companies in the Oil & Gas, Transportation, and Energy markets. ProArc represents our first acquisition in Norway, and our second in the Nordic region, an area in which we are committed to growing.
By joining Vela, ProArc will gain access to Vela’s and Constellation’s operating expertise across 200+ software businesses, our financial strength, and our global infrastructure. As a permanent-hold investor, we look forward to supporting and bolstering ProArc’s market leadership in the Nordics—as well as globally—for the long run.”
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.