Parlance is a leading provider of voice-first communication solutions, known for its innovative speech recognition software. Parlance built a strong presence in the telecommunications industry by providing automated attendant systems for large enterprises and Fortune 500 companies. Under the leadership of CEO Joseph Maxwell, Parlance has strategically focused on optimizing the healthcare voice channel, which remains the primary communication method of healthcare consumers. Known for its customer-centric approach, continuous focus on innovation, organizational stability, and proactive managed service, Parlance has become a trusted partner for clients across various industries. Thousands of health systems, enterprise businesses and higher education institutions rely on Parlance to simplify communication processes, improve efficiency, and save money.
The Decision to Sell
After a 25+ year evolution, Parlance leadership recognized that despite the company’s consistent track record of success and solid position in the market, the resources and scalability needed to achieve the next phase of growth objectives would require a strong strategic partner. Parlance chose to explore potential acquirers who would not only provide the necessary financial and strategic resources to propel the business forward, but would align with the company’s vision for the future. Parlance engaged Stephens, a leading investment banking firm, to navigate the acquisition process, which involved a broader search for the right buyer, an organization that would support Parlance’s mission and offer long-term growth opportunities. Through a diligent search process, and after evaluating multiple options, Parlance decided that Volaris Group was the right fit. With its proven track record of supporting businesses in scaling their operations, Volaris offered the stability and expertise that would enable Parlance solutions to drive further innovation, accelerate growth, transform healthcare communication and lead the industry forward. The decision to sell to Volaris was made, marking the beginning of a new chapter for Parlance.
One of the many benefits of joining Volaris is the access to strong talent and valuable expertise. The opportunity to work with numerous subject matter experts will undoubtedly help Parlance accelerate growth and drive expansion.
– Joseph Maxwell, CEO of Parlance
The Post-Acquisition Transition
The early stages of the acquisition were focused on ensuring a smooth transition and maintaining business continuity. For Joseph Maxwell and the Parlance leadership team, the key to a successful transition was balancing the integration process with ongoing operations. As CEO, Maxwell took on the primary responsibility for overseeing the Volaris integration, while relying on Parlance’s Chief Revenue Officer, Scott D’Entremont to drive continued enterprise management and business growth.
The integration process started quickly, which was a good thing. We wanted to jump in, embrace the change, and become the best version of Parlance within Volaris.
– Joseph Maxwell, CEO of Parlance
The Volaris integration process is methodical, with a focus on retaining top talent, maintaining customer relationships, and ensuring that business operations continue seamlessly. Parlance implemented several Volaris’ practices aimed at improving performance across the organization. The Volaris approach is modeled after public company practices and requires a more detailed level of financial reporting and discipline, which is critical in driving improved performance across businesses. This shift in mindset, including the measurement of an increased number of departmental metrics to enable deeper financial transparency and effectively track business objectives, has helped Parlance to operate more efficiently, and with greater alignment to Volaris best practices across departments.
Future Growth and Scalability
Although the full impact of the acquisition was still unfolding at the time of the interview, Joseph Maxwell expressed confidence in the future of Parlance under Volaris. He emphasized that Volaris’ long-term investment in Parlance would surely support significant growth over the three-to-five-year horizon. The added resources and strategic support from Volaris poises Parlance to scale well beyond its pre-acquisition annual recurring revenue goals, positioning the company for success in the competitive speech-enabled communication market.
Since the acquisition, we’ve had opportunities to network with other Volaris businesses, learn from their experiences, and apply best practices that will help us scale effectively.
– Joseph Maxwell, CEO of Parlance
Maxwell also highlighted the development of new opportunities for Parlance employees. Through Volaris, Parlance has been exposed to greater networking and talent development opportunities, enabling employees to connect with subject matter experts from other companies within the Volaris portfolio. Additionally, adopting best practices produced opportunities for internal growth with several staff members taking on new roles and responsibilities within the organization. For example, team member Katie Cardarelli took the lead in establishing a professional services organization within Parlance—an initiative that had not existed prior to acquisition. This expansion will enhance the company’s value proposition to customers.
Promises Delivered: Realizing the Potential
The Volaris acquisition enabled Parlance to accomplish several objectives that were important to Parlance stakeholders. Volaris’ core approach is to acquire, operate, and hold vertical market software companies forever. This meant that the Parlance brand and mission would remain intact in the market, a key Parlance objective. Volaris is committed to a de-centralized operating approach, providing resources, guidance, and long-term growth support. This was a fundamental benefit to Parlance, as it ensures both Volaris and Parlance will achieve their long-term goals.
Expanding Opportunities
Supporting its long-term vision, Parlance began bringing new products to market. The launch of a conversational AI-based intelligent voice assistant (IVA) in 2024 marked a significant milestone for the company, with expectations for even greater success in 2025. Maxwell noted that the Parlance IVA represents a new product life cycle for improving caller engagement. This focus will lead to new sales and implementations, driving future growth for the company in the healthcare vertical, and ensuring Parlance remains competitive and innovative for years to come.
Volaris’ investment in Parlance is positioning us for long-term success. The resources and strategic guidance they provide are helping us drive towards our growth goals.
– Joseph Maxwell, CEO of Parlance
Advice to Other Executives: Embrace the Integration Process
Reflecting on the M&A process, Joseph Maxwell offered advice to executives considering a similar move. He emphasized the importance of focusing not just on the search for the right acquirer, but also on the integration phase that follows. Maxwell advised other leaders to ensure that the business continues to drive growth during the integration period and to designate team members to oversee both integration and growth efforts simultaneously. For Maxwell, this dual focus was critical to ensure Parlance maintains momentum while being absorbed into the Volaris ecosystem.
Additionally, Maxwell encouraged executives to remain open to learning and adapting to new ways of running the business. He stressed the importance of embracing the changes that come with being part of a larger organization and to take full advantage of the opportunities available through the new relationship.
