Business
Constellation Software Inc. to Acquire Business Assets of DataTeam Systems Inc.
Constellation Software Inc. to Acquire Business Assets of DataTeam Systems Inc..
About this update from Constellation Software Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, June 30 /CNW/ - Constellation Software Inc. (\"Constellation\")\n(TSX: CSU) announced today that its Board of Directors has approved the\nacquisition of the business assets of DataTeam Systems Inc (\"DataTeam\"). Upon\nconsummation of the deal, which is expected to close within 14 days, DataTeam\nwill be rolled into Constellation's wholly-owned subsidiary N. Harris Computer\nCorporation (\"Harris\"), a leading provider of software solutions for\nutilities, local governments and school districts.\n\"DataTeam is a software provider for the K-12 school market based in\nLawrence, Kansas. This acquisition fits nicely with our recent acquisitions in\nthe school district management software vertical,\" said Mark Leonard, Chairman\nand President of Constellation. \"We welcome the DataTeam customers, employees\nand products into the Harris family.\"\n\"With a purchase price of less than $5 million, DataTeam represents a\ntypical tuck-in acquisition, from a size perspective, for Constellation,\" said\nBarry Symons, Chief Financial Officer of Constellation. \"Assuming completion\nof the transaction, this will mark our sixth acquisition so far in 2006.\"\n\nAbout Harris:\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 feature-rich\nand robust turnkey solutions to all levels of local government, public power\nand water entities as well as school districts throughout North America.\nHarris' focus is on creating long-term relationships with our customers and\nensuring that we meet the changing needs of our customers over time.\n\nAbout Constellation:\n\nConstellation's common shares are listed on the Toronto Stock Exchange\nunder the symbol \"CSU\". Constellation Software is an international provider of\nmarket leading software and services to a number of industries across both the\npublic and private sectors. The Company acquires, manages and builds vertical\nmarket software businesses that provide mission-critical software solutions to\naddress the specific needs of its customers in those industries.\n\nForward Looking Statements\n\nCertain statements herein may be \"forward looking\" statements that\ninvolve known and unknown risks, uncertainties and other facto...