XPND Capital has announced the acquisition of a minority (30%) stake in DIREXYON. The investment closed in December 2017. Financial terms were not disclosed.
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Founded in 2001 under the name Solutions Modex, Montreal based DIREXYON provides large organizations solutions for strategic financial modelling. With a team of 50 employees, DIREXYON provides financial modeling and predictive analytics software solutions, particularly adapted to the infrastructure sector, to large organizations for improved decision-making.
DIREXYON is led by Mario Bottone, who was appointed President and CEO in November 2017. Bottone holds an MBA from McGill University and over 20 years of experience in IT, sales, marketing and product strategy. Bottone has held key positions in several companies, including Logibec, Technologies 20-20, Workopolis and Monster.com.
“The solutions developed by DIREXYON are nothing short of a revolution, led by a team with an exceptional vision and expertise in financial modelling and software development. The company brings together state-of-the-art technology, an impressive client portfolio and a tremendous potential for growth. We are very proud to support an organization like DIREXYON that meets all our investment criteria,” said Alexandre Taillefer, Managing Partner, XPND Capital. “Montreal is home to remarkable expertise when it comes to technological innovations. We must ensure that we tap into this exceptional expertise to develop world-class businesses in high-potential sectors. That’s exactly the case with DIREXYON.”
“The DIREXYON team is very pleased with the XPND Capital investment, which will accelerate our business development efforts around the world,” said Pierre Vigneault, founder and Chairman of the DIREXYON Board. “More than ever, organizations that optimize their investment strategies will be ahead of the competition. The role of our team of developers and financial modelling experts is to provide a solution that will help decision makers find the most profitable options for their organization.”
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