Security workforce management platform provider Trackforce Valiant on Wednesday announced that it has acquired rival TrackTik Software for an undisclosed sum.
Founded in 2013, Montreal-based TrackTik offers a cloud-based, SaaS solution for security workforce management that is current being used by organizations in more than 35 countries globally.
“We are very excited to welcome TrackTik into the Trackforce Valiant family,” Trackforce Valiant CEO Trevor Campion said in a statement. “Now more than ever, we believe in the importance of providing the right security solutions for companies of all sizes and business needs. The addition of TrackTik enables us to provide a wide range of technology options that are purpose-built for the unique needs of physical security operations.”
“The physical security market continues to grow, and with that so does the need for solutions that can grow with them,” added Simon Ferragne, CEO of TrackTik. “This acquisition positions us as the dominant leader for security workforce technology, and we are thrilled to work together to continue our mission to build innovative, leading-edge solutions for our customers.”
According to the aforementioned statement, both companies will continue to maintain operations in service of their customers and partners, with Campion overseeing the combined organization as CEO and Ferragne entering the role of CTO. Additionally, Ferragne and TrackTik’s investors - CDPQ Investissements, Georgian, Klass Capital, Inovia Capital, Intercap, and Schauer Ventures - have reinvested a portion of their proceeds in the newly combined entity to help foster continued growth in the company. TrackTik will also continue to operate and maintain its presence in Quebec.
