Combination Creates Global Leader in Vacation Ownership Software
CHICAGO, ILLINOIS / ACCESS Newswire / April 30, 2025 / (NYSE:KFS) Kingsway Financial Services Inc. (KFS) ("Kingsway" or the "Company"), the only publicly-traded US company employing the Search Fund model to acquire and build great businesses, today announced that its wholly-owned subsidiary Systems Products International Inc. ("SPI Software"), a leading provider of vacation ownership software, has acquired @Work International Pty Ltd ("ViewPoint"), a cloud native timeshare software firm headquartered in Mount Waverley, Australia, from RCI Pacific.
The acquisition advances SPI Software's leadership in the vacation ownership software market and positions the company to serve an even broader global client base with innovative, cloud-based solutions.
"I am pleased to welcome ViewPoint's employees, customers, and partners to the SPI Software family," said Drew Richard, President of SPI Software. "SPI Software and ViewPoint are a wonderful strategic fit given our highly complementary offerings. I am confident that by bringing the two firms together we can accelerate our collective product roadmap and capitalize on exciting new opportunities for geographic and market expansion. Importantly, SPI Software and ViewPoint share a commitment to outstanding customer relationships and support, which will remain a top priority going forward."
"Under Drew's leadership, SPI Software has achieved Rule-of-40 status by investing in its product, its people, and its customer experience," said JT Fitzgerald, Kingsway's President and CEO. "Kingsway is thrilled to continue supporting Drew as he adds a second company to the Vertical Market Solutions software platform under the Kingsway Search Xcelerator."
The transaction is immediately accretive to Kingsway's Adjusted EBITDA. Financial terms were not disclosed.
About the Company
Kingsway Financial Services Inc. is the only publicly-traded US company employing the Search Fund model to acquire and build great businesses.
Kingsway owns and operates a collection of high-quality B2B and B2C services companies that are asset-light, growing, profitable, and that have recurring revenues. Kingsway seeks to compound long-term shareholder value on a per share basis via its decentralized management model, its talented team of operators, and its tax-advantaged corporate structure.
About SPI Software
SPI Software is a leading provider of software, technology, and business services solutions for the vacation ownership industry. With a focus on innovation and customer satisfaction, SPI empowers resorts and vacation clubs to streamline operations, enhance the member experience, and drive revenue growth. For more information, visit www.spisoftware.com.
Additional Information
Additional information about Kingsway, including a copy of its Annual Reports, can be accessed on the EDGAR section of the U.S. Securities and Exchange Commission's website at www.sec.gov, on the Canadian Securities Administrators' website at www.sedar.com, or through the Company's website at www.kingsway-financial.com.
For Media Inquiries:
Hayden IR
James Carbonara
(646) 755-7412
james@haydenir.com
For Company Inquiries:
Kingsway Financial Services Inc.
Kent Hansen, CFO
(312) 766-2163
khansen@kingsway-financial.com
For SPI Software Inquiries:
Systems Products International Inc.
Drew Richard, President
(305) 209-1408
drew.richard@spiinc.com
SOURCE: Kingsway Financial Services, Inc.
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