Toronto acquisition firm buys Richmond software company

Volaris Group, a Toronto-based buyer and operator of vertical market software companies, announced last week it has acquired Richmond-based educational software company SoftChalk LLC.

Financial terms of the transaction were not disclosed.

Using the SoftChalk platform, instructors can develop custom course materials and interactive content, including quizzes and annotated text.

“The team at Volaris shares our vision for the power of educational technology making it a great home for the SoftChalk technology and team,” SoftChalk CEO Sue Evans said in a statement. “This move helps us further support innovation and product growth.”

Under the acquisition, SoftChalk will be integrated into Volaris Group software subsidiary AssetWorks.

“Expanding the Volaris portfolio of higher education software firms creates even more opportunities to share best-practices and encourage talent development across teams,” Trey Drake, Volaris Group leader, said in a statement. “Our approach to acquisitions, where we buy and hold companies forever, helps us develop lasting customer relationships which is critical as we continue to deliver on the immense responsibility that comes with supporting mission-critical education and learning technologies.”

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