Toronto, ON — April 8, 2024 — Today, Securian Canada Inc. is pleased to announce that Perseus Group Software Corp. (“Perseus”), which is part of Constellation Software Inc., has acquired Valeyo Inc. (“Valeyo”) and its loan origination software (LOS) business.
In February 2023, Valeyo came together with Canadian Premier Life and Sun Life’s Sponsored Markets business to become Securian Canada (a leading insurance provider of innovative, life-ready insurance solutions in Canada) – one organization under one brand. Securian Canada, along with its U.S. parent company, Securian Financial, is a leading insurance provider in the Financial Institution market.
The Valeyo brand will be maintained under Perseus and the team is committed to supporting the long-term lending needs of the credit union industry. The insurance portion of the Valeyo business will be retained by Securian Canada and clients will continue to receive exceptional service. Moving forward, the two organizations will work closely to deliver combined and enhanced insurance and technology solutions to both existing and new clients in the credit union market.
“Securian Canada made this decision in alignment with our broader strategy to serve our key markets with leading insurance and tech solutions through integrated, trusted partnerships. We believe Perseus Group is a fantastic fit for the Valeyo team with the right core technology capabilities to deliver the best value to our mutual clients. In close collaboration, Securian Canada will focus on insurance product and delivery innovation while Valeyo and Perseus together will lend expanded resources and expertise to the market. We’re confident that we have increased opportunities to innovate and disrupt in our markets, which is why today’s move is truly a positive one for our organization,” said Nigel Branker, CEO Securian Canada.
"We're excited to welcome the Valeyo team to the Perseus family. This strategic move reflects our ongoing commitment to growth in the financial services software industry,” said Alvin Lau, President, Financial Solutions Group. “We're optimistic about the opportunities this acquisition brings and are excited about the positive impact it will have on our continued expansion," said Mitchell Francis, President, Constellation Financial Software.
Terms of the deal were not disclosed.