Valsoft acquires WorkDynamics Technologies Inc, as it enters the Document Management space
MONTREAL, JULY 21, 2022 – Valsoft Corporation Inc. (“Valsoft”), a Montreal-based company specializing in the acquisition and development of software companies in vertical markets, is pleased to announce the acquisition of WorkDynamics Technologies Inc. (“WorkDynamics”), a provider of workflow and document management software catered to the public sector in Canada and the US, across federal and provincial governments.
Headquartered in Ottawa, Ontario, WorkDynamics offers solutions that facilitate the storage and retrieval of information such as paper and electronic documents, memos, emails, phone call records, and other correspondences. With the acquisition of Work Dynamics, Valsoft enters the document management vertical with the objective of expanding into the space.
“WorkDynamics has been in the business of helping organizations streamline and manage correspondence and workflow-related activity for more than 24 years,” commented Grant Bifolchi, founder and senior VP of WorkDynamics. “Valsoft’s acquisition undoubtedly will present a wonderful opportunity for us to take what we offer to the next level both in technical capability and in customer opportunity.”
WorkDynamics was founded in 1998 by Grant Bifolchi. The software was historically used for correspondence control management between government and constituents. Over the years, the breadth of the solution increased and now has applications for workflow automation & tracking, case management, bylaw management, compliance, reporting & monitoring.
“We are excited to enter the document management vertical through our acquisition of WorkDynamics” stated Michael Assi, CEO of Aspire Software, the operating division at Valsoft. “Grant and his talented team have built a stellar reputation in the industry, and we are looking forward to supporting their growth for years to come and expanding further into the document management space.”
Upon joining Valsoft, Work Dynamics will be able to leverage the operational synergies and expertise of Aspire Software to bolster its presence in Canada, as well as expand across North America. Grant will remain onboard at the helm of WorkDynamics as they enter this next exciting chapter.
About WorkDynamics Technologies
For 25+ years, WorkDynamics has delivered the leading document management platform to the world’s largest organizations. WorkDynamics focuses on making document management highly intuitive and easy while streamlining and accelerating business processes, tracking and accountability.
About Valsoft Corporation
Valsoft Corporation acquires and develops vertical market software companies through which each business can deliver the best mission-critical solutions for customers in their respective industry or niche. A key tenet of Valsoft’s philosophy is to invest in well-established businesses and foster an entrepreneurial environment that shapes a company into a leader in its respective industry. Unlike private equity and VC firms, Valsoft does not have a predefined investment horizon and looks to buy, hold, and create value through long-term partnerships with existing management and customers.
Valsoft Corporation was represented internally by David Felicissimo, General Counsel. WorkDynamics Technologies were represented by Michael Leaver of Kelly Santini LLP, Ottawa, Canada.