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Constellation Software (TSX: CSU) Acquires System Innovators
Publicly-traded Constellation Software’s acquisiton of System Innovators adds best-in-class solutions to its wholly owned subsidiary, N. Harris Computer Corporation.
Roger Nelson
,
Founder & Chairman
After interviewing 10 M&A firms, I selected Software Equity Group to represent me. They understood both me and my business instantly, and recognized the value we had built over the years. SEG’s search resulted in 3 viable offers, allowing me to select one that best met my exit objectives. SEG let me know what to expect every step of the way and, as a result, the process went much more quickly and smoothly than I expected. In the end, I got the strategic deal that I wanted and my employees and clients benefited, too."
- Roger Nelson, Founder and former Chairman, System Innovators
SEG served as exclusive advisor to System Innovators
Client Description
The company
System Innovators is a leading provider of online cashiering and collections systems and support for government and utility clients.
Buyer Description
The company
Constellation Software is an international provider of market-leading software and services to a number of industries, both in the public and private sectors.
Headquarters
Toronto, Canada
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PRESS RELEASE OVERVIEW
Software Equity Group’s Client System Innovators Acquired by Constellation Software Inc.
San Diego, CA, April 9, 2008 – Software Equity Group, LLC (SEG), a leading software industry investment bank and M&A advisory, announced today the sale of its client, System Innovators, Inc. to Constellation Software Inc. (“Constellation”) (TSX:CSU) through Constellation’s wholly-owned subsidiary N. Harris Computer Corporation (“Harris”). System Innovators is a leading provider of online cashiering and collections systems and support for government and utility clients.
“I am pleased to add System Innovators to the Harris family of solutions.” stated Jeff Bender, Harris’s CEO. “We continue to add best in class solutions to our portfolio and this is no exception.”
Roger Nelson, Founder and Owner of System Innovators, said, “I have thoroughly enjoyed the 27 years that I have spent building this business and am grateful for the many friendships with employees and clients that have developed along the way. System Innovators is poised for growth and I am ready for an active retirement so this is the right thing to do to allow the business to flourish. Our clients and employees will both benefit from this acquisition by Harris. I am confident that I am leaving the company in good hands”.
As a result of the purchase, System Innovators and its flagship cashiering solution iNovah are now part of the Harris portfolio of solutions. System Innovators will operate as a business unit of Harris and will continue to sell, develop, enhance, support and service iNovah, RevenueCollector and Cashier for Windows from their current offices in Jacksonville, FL.