MyTaskit announced today that it has entered into a formal partnership with Valsoft, a company specialized in the acquisition and development of vertical market software companies.
"When Valsoft approached us, they were looking to invest in the continued success of our marine software products," said Kevin Hutchinson, CEO and founder of MyTaskit. "As our discussions evolved, we found that by committing to a strategic collaboration, we would be able grow the capabilities and demand for both of our products. This partnership focuses on delivering more extensive product solutions to our existing customers and the marine industry as a whole, while also opening up opportunities to partner with other niche marine software providers."
The partnership aims to provide expanded software solutions for the marine industry with DockMaster, the marine business management software, being at the core. DockMaster is a brand that has been an industry staple for more than three decades, helping marine professionals manage their business operations. Since 2015, DockMaster has been known as the Operations module of MyTaskit Pro. As part of the new Valsoft partnership, it will return to the DockMaster name.
Hutchinson said that both products will continue to be sold as they are currently, and other than the rebranding of DockMaster, there will be no change for customers and industry partners.
“I can’t tell you how many customers have come to me, and business partners and consultants in the industry, that said ‘Why did you get rid of the DockMaster name?’ I’m hearing it loud and clear and this is an opportunity for us to bring it back,” he said. “Quite frankly the branding never was going to replace such a strong, recognizable, respected brand of DockMaster, and so I think going back to the DockMaster name makes total sense, not only for our customers but for us internally as well.”
With this business alliance, Valsoft obtains the rights to the DockMaster brand and intellectual property, as well as operations of DockMaster products and services. The MyTaskit and DockMaster teams will work together daily, ensuring the partnership results in continued strategic development, deployment, support, and integration of both DockMaster and MyTaskit Pro software products. Cam Collins, previously senior vice president at MyTaskit, has been named president of DockMaster, and will continue in this role as the leading executive of operations. Additionally, Hutchinson is joining Valsoft's board of advisors. Hutchinson said the partnership is aimed at continued growth and enhanced product development.
Valsoft CEO Ouissam "Sam" Youssef said his company is looking forward to a long-term partnership with MyTaskit.
"We approached Mr. Hutchinson about a partnership between our two companies to bring back the DockMaster brand and invest in the marine industry software leader,” he said. “We will carry on Kevin and his team's legacy of 100 percent customer success. We will continue to work closely with Kevin, Cam and the entire MyTaskit and DockMaster team to make sure our customers have all the tools they need to compete in today's technology era."
Valsoft and MyTaskit have additionally formed a co-marketing relationship for MyTaskit Pro's coordination product, a task coordination software solution for marine service companies. This agreement will support the continued data integration between DockMaster and MyTaskit Pro, and both companies expect future software integrations and product enhancements to follow.
Hutchinson said that with the help of Valsoft, MyTaskit would be getting more aggressive with acquisitions in the marine technology market, with the aim of folding those products into the DockMaster suite of solutions. The company has already added products like Worldpay, Elavon, BoatCloud, Dealer Spike, teamMarine and others to its solutions.
“What we are looking for are solutions that fill product gaps that may not be in the DockMaster product today or companies that may overlap some with the DockMaster system but do it better. They have a niche product that might be better at doing particular things,” he said. For example, “BoatCloud does launch of boats out of racks, and they do it really well, so we did an integration with them. They’re a great example of someone that filled a niche solution that works well with the DockMaster system.”
Valsoft specializes in building and acquiring vertical market software companies that provide mission critical solutions in their respective industry or niche. Valsoft's operating strategy is to hold, invest and create value in companies for the long term through various organic growth and acquisition initiatives. Valsoft is headquartered in Montreal, Quebec, Canada.
MyTaskit provides a software platform for coordinating tasks within companies and between multiple businesses and their customers. Its software allows service professionals to perform work more efficiently, gives companies a way to increase profitability and better measure customer satisfaction.
For more information, visit www.mytaskit.com.