Business
Constellation Software Inc. Acquires PG Govern
Constellation Software Inc. Acquires PG Govern.
About this update from Constellation Software Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, March 2 /CNW/ - Constellation Software Inc. ("Constellation")\n(TSX: CSU) announced today that it has completed the acquisition of PG Govern\n("PG") through its wholly-owned subsidiary N. Harris Computer Corporation\n("Harris").\n\n\nHarris Chief Executive Officer Jeff Bender stated, "PG is a great\naddition to the Harris family of products. PG has tremendous market share and\nbrand recognition in the Quebec marketplace. PG provides its customers with a\nrobust product suite, value added service delivery, and has a solid track\nrecord in customer satisfaction. In addition, the Govern CAMA and Land\nManagement suite of products will be a strong complement to our existing local\ngovernment business suite and will generate a lot of interest from both sales\nprospects as well as our existing customers."\n\n\nPG Founder and Chairman Thomas Gagnon commented, "This is the right move\nfor our customers, our employees and the company. Becoming part of the Harris\nfamily provides us with access to the resources we need to continue our track\nrecord of success. I am confident that the sale marks the beginning of the\nnext 20 years of success for PG. I have invested a lot of my life's energy\ninto building PG and I am pleased that our group of executives will continue\nto build upon my vision."\n\n\n"PG represents one of our larger acquisitions to date, with a total\npurchase price of approximately Cdn$25 million plus adjustments for audited\nnet tangible assets delivered at close," said Barry Symons, Chief Financial\nOfficer of Constellation. "With revenues for the year ended December 31, 2006\nof approximately Cdn$16 million, we expect that PG will contribute\nsignificantly to our targeted acquisition growth in 2007."\n\n\nConstellation's Vice President, Business Development Bernard Anzarouth\nadded, "PG is Constellation's third acquisition so far in 2007 and our ninth\nsince we went public in May, 2006. We are encouraged by our strong start to\n2007 with respect to our capital allocation goals for the year."\n\n\nAbout Harris:\n\n\nHarris is a wholly-owned subsidiary of Constellation and is a leading\nprovider of financial management and Customer Information Systems (CIS)\nsoftware solutions. Since 1976, Harris has focused on providing featur...