TORONTO, June 30 /CNW/ - Constellation Software Inc. ("Constellation")
(TSX: CSU) announced today that its Board of Directors has approved the
acquisition of the business assets of DataTeam Systems Inc ("DataTeam"). Upon
consummation of the deal, which is expected to close within 14 days, DataTeam
will be rolled into Constellation's wholly-owned subsidiary N. Harris Computer
Corporation ("Harris"), a leading provider of software solutions for
utilities, local governments and school districts.
"DataTeam is a software provider for the K-12 school market based in
Lawrence, Kansas. This acquisition fits nicely with our recent acquisitions in
the school district management software vertical," said Mark Leonard, Chairman
and President of Constellation. "We welcome the DataTeam customers, employees
and products into the Harris family."
"With a purchase price of less than $5 million, DataTeam represents a
typical tuck-in acquisition, from a size perspective, for Constellation," said
Barry Symons, Chief Financial Officer of Constellation. "Assuming completion
of the transaction, this will mark our sixth acquisition so far in 2006."
About Harris:
Harris 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:
Constellation's common shares are listed on the Toronto Stock Exchange
under the symbol "CSU". Constellation Software 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.
