Miami FL, September 26, 2023 – SPI Software, a leading global provider of innovative software solutions for vacation ownership resorts and travel clubs, is pleased to announce its acquisition by Kingsway Financial (NYSE: KFS), a prominent investment firm specializing in a diverse portfolio of innovative and growth focused companies. This strategic acquisition solidifies SPI Software's global leadership position and recognizes its immense future potential.

The acquisition comes because of Kingsway’s extensive due diligence and recognition of SPI Software's exceptional market presence, cutting-edge technology, and unwavering commitment to customer success. Kingsway will bring considerable resources to SPI Software allowing for the companies to leverage collective expertise and resources to drive further growth, innovation, and value for their customers and stakeholders.

"We are delighted to join forces with Kingsway, a highly respected firm with a strong track record of nurturing technology-driven companies," said Gordon McClendon, CEO of SPI Software. "This acquisition is a testament to the diligence and dedication of our team, as well as the confidence our customers have placed in us over the past four decades. We are excited about the opportunities this acquisition brings and the value it will create for our customers."

SPI Software has positioned itself as a leader in providing software solutions to the vacation ownership sector of the global hospitality industry. The company provides cutting-edge software solutions that empower a diverse portfolio of clients to streamline operations, enhance efficiency, and drive growth. SPI Software has consistently delivered innovative solutions that have revolutionized how businesses operate in the industry they serve.

Kingsway, known for its expertise in identifying promising companies, recognizes the immense potential of SPI Software in helping to shape the future of the vacation ownership business. By combining Kingsway’s resources with SPI Software's market-leading solutions, the acquisition aims to accelerate innovation and enable businesses to thrive in an increasingly competitive landscape.

"SPI Software's exceptional market presence and commitment to innovation align perfectly with our investment strategy," said Drew Richard, who will oversee the SPI Software business unit for Kingsway. "We are excited to welcome SPI Software into the Kingsway family and look forward to working closely with Gordon and their talented team to drive growth, expand market reach, and enhance customer value."

The acquisition of SPI Software by Kingsway, marks an exhilarating chapter in SPI's journey, unlocking opportunities for growth, innovation, and global expansion. SPI Software remains committed to its mission of delivering exceptional software solutions and providing unparalleled support to its customers.

“For SPI Software, this represents is a transition from an entrepreneurial, privately held company to a mature and innovative business backed by the resources of Kingsway, a NYSE publicly traded company. This is a natural evolution for SPI, great news for our team, our clients, our industry, and will unquestionably enable us to raise SPI to the next level," added Gordon McClendon.

For more information about SPI Software, please visit www.SPISoftware.com.