Kingsway acquires SPI (vertical market software) for cash; forms VMS platform

KINGSWAY FINANCIAL SERVICES INC

Acquired Systems Products International (SPI), a software provider for timeshare/vacation ownership; Drew Richard named CEO.
Fourth acquisition under Kingsway Search Xcelerator program; expected to be immediately accretive with high margins and recurring revenue.
Miles Mamon joins as Operator-in-Residence; previously VP at Morgan Stanley with background in merchant banking and real estate investing.
Closing purchase price paid in cash; VMS formed as platform for future vertical market software acquisitions.
Management to host conference call at 5:00 p.m. ET on Sept 11, 2023 to discuss transaction.

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