Tom Spengler, a Sovra board member and longtime executive at government technology firms, is taking the top job from Luc Filiatreault. Sovra, formerly MDF Commerce, did not disclose financial details for the acquisition of Calgary-based Ontopical. It has also sold three of its business units to Valsoft, and three others to an unnamed buyer. (The Logic)
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Tom Spengler, a Sovra board member and longtime executive at government technology firms, is taking the top job from Luc Filiatreault. Sovra, formerly MDF Commerce, did not disclose financial details for the acquisition of Calgary-based Ontopical. It has also sold three of its business units to Valsoft, and three others to an unnamed buyer. (The Logic)
Talking point: Founded in 1996, Sovra makes procurement software for U.S. and Canadian state and local governments and public-sector organizations. It’s grown significantly through acquisitions. In May 2024, the then-public company went private in a deal with a group of KKR funds. Its latest purchase, Ontopical, developed an AI-powered tool to help businesses find and respond to government contract opportunities. Sovra will fold the technology into its platform, and add all 27 Ontopical staff to its 456-person workforce.
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