SOVRA shifts to GovTech focus with Ontopical acquisition
SOVRA has announced a series of strategic moves, including an acquisition, a new chief executive appointment, and the divestiture of several non-core business units, as part of its ambitions to become a leading GovTech platform in North America.
Acquisition of Ontopical
As part of its strategic focus on the public sector, SOVRA has acquired Ontopical, a government intelligence platform based in Calgary that uses artificial intelligence to provide business development teams with curated information ahead of Government RFPs. Ontopical's proprietary AI, named "Oliver," scans more than 65,000 public data sources to provide early-stage market insights to suppliers before formal RFPs are issued. This pre-RFP intelligence will advance SOVRA's procurement platforms by allowing vendors more time to prepare for and pursue government contracts.
Following the acquisition, Clayton Feick, Chief Executive Officer of Ontopical, will become President of SOVRA Supplier, while Ontopical founder Derrick Koenig will lead the Supplier product team.
"We've built something powerful, and now we get to scale it faster than ever. Joining SOVRA gives us the reach, resources, and platform to help thousands more businesses gain an advantage by connecting with public sector demand, early and effectively," said Feick.
In tandem with the Ontopical deal, SOVRA has divested six non-core business units to concentrate its efforts and investment on its primary public sector procurement solutions. Polygon, The Broker Forum, and Carrus have been sold to Montreal-based Valsoft, a company focused on vertical software acquisitions. Jobboom, KCentric, and Orckestra have been sold to an undisclosed Canadian software group that also specialises in vertical SaaS acquisitions.
SOVRA stated that these portfolio adjustments are in line with its strategic commitment to consolidating its position within the North American GovTech platform landscape.
SOVRA combines longstanding brands, including Bidnet Direct, Periscope, and MERX, within a single platform connecting more than one million suppliers to over 7,000 public sector agencies across North America. The platform is designed to streamline sourcing, expand access for vendors, and enhance procurement outcomes, while for suppliers, it provides improved access to government contracting opportunities.
Tom Spengler, a member of SOVRA's board and a longtime expert in the government technology sector, has been appointed as the new Chief Executive Officer. Spengler succeeds Luc Filiatreault, who transitions to the board and will serve in an advisory capacity.
Filiatreault, who led the company for six years, supervised its transformation, including growth through acquisitions and its transition to private ownership under funds managed by KKR in 2024. During his time as CEO, SOVRA has become one of Montreal's largest software businesses.
"It has been an honor to lead SOVRA through such a transformative period, and I look forward to continuing on the Board and in an advisor capacity. I am proud of what we have accomplished together, from expanding our GovTech footprint to successfully navigating the transition to a private company and rebranding to SOVRA," said Filiatreault. The organization is well-positioned for the future, and I have full confidence in Tom's ability to lead the company forward."
