TORONTO, Feb. 5 /CNW Telbec/ - Constellation Software Inc. ("Constellation") (TSX: CSU) announced today that it has completed, through its wholly-owned subsidiary N. Harris Computer Corporation ("Harris"), the acquisition of the business assets of APTA Software ("APTA").
"APTA Software, based in Tucson, Arizona, is a software provider for K-12 school districts and charter schools in the United States. This marks our fourth acquisition in the school administration vertical after first entering this vertical just over a year ago," said Jeff Bender, Chief Executive Officer of Harris. "We welcome the APTA customers, employees and products into the Harris family."
"While the APTA acquisition will not have a material impact upon Constellation, tuck-in acquisitions such as this are a good example of Constellation's business model," said Barry Symons, Chief Financial Officer of Constellation. "We often enter a fragmented vertical with a small acquisition and then rapidly build scale with a series of tuck-in acquisitions in that same industry."
APTA is Constellation's second acquisition so far in 2007 and the eighth since Constellation went public in May, 2006.
About Harris Computer Corporation:
Harris Computer Corporation is a wholly-owned subsidiary of Constellation and is a leading provider of financial management and Customer Information Systems (CIS) software solutions. Since 1976, Harris has focused on providing feature-rich and robust turnkey solutions to all levels of local government, public power and water entities as well as school districts throughout North America. Harris' focus is on creating long-term relationships with our customers and ensuring that we meet the changing needs of our customers over time.
About Constellation Software Inc.:
Constellation Software Inc.'s common shares are listed on the Toronto Stock Exchange under the symbol "CSU". Constellation is an international provider of market leading software and services to a number of industries across both the public and private sectors. The Company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions to address the specific needs of its customers in those industries.
Forward Looking Statements
Certain statements herein may be "forward looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Constellation or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date hereof. Forward looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward looking statements. These forward looking statements are made as of the date hereof and Constellation assumes no obligation to update any forward looking statements to reflect new events or circumstances.