San Diego, CA, Nov. 30, 2007 – Software Equity Group, LLC (SEG), a leading software industry investment bank and M&A advisory, announced today the sale of its client, Computrition Inc. (“Computrition”) to Constellation Software Inc. (“Constellation”) (TSX:CSU). The acquisition represents Constellation’s entry into the healthcare market with a leading foodservices software and services provider. Further details of the transaction were disclosed in a Constellation news release of November 20, 2007 at the time Constellation entered into an acquisition agreement to acquire Computrition . Computrition will be managed as part of Constellation’s Jonas Operating Group.
“Computrition is a leading provider of software solutions and professional services to the foodservices industry in North America, with customers in various market segments including healthcare, higher education, the military and public safety,” said Barry Symons, CEO of Jonas. “We welcome the Computrition customers and employees into the Jonas family.”
Computrition Founder, Chairman and CEO Ellyn Luros-Elson commented, “This is the right move for our customers, our employees and the company. Joining forces with Jonas, as part of the Constellation family, provides us with access to additional resources that can only enhance our ability to build on our track record of success.”
“For over 20 years, Computrition has been a leader and innovator in the foodservices market,” said Scott Saklad, President of Computrition. “I, and the rest of the Computrition team, are very excited to be part of the Jonas group and look forward to continuing our reputation for delivering best of class products and services that exceed the expectations of our customers.”
Jonas is a leading provider of enterprise management software solutions to the Club and Construction Management industries. Jonas has over 4,500 customers worldwide in 11 countries. Jonas employs over 200 individuals consisting of a cross-section of industry experts and technology professionals. Jonas is headquartered in Canada and also operates offices in the United States and the United Kingdom.
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.