Toronto, Canada, November 25, 2009 — Constellation Software Inc. (“Constellation”) (TSX: CSU) announced today that Trapeze ITS, a leading provider of solutions for public passenger transportation and an operating company within Constellation’s Trapeze Operating Group, is reducing its workforce by approximately 110 employees, primarily at the company’s main office in Neuhausen, Switzerland. Trapeze ITS’ main development and production office will continue to be located in Neuhausen, Switzerland.
Hans-Peter Schär, Managing Director Trapeze ITS, said, “Today’s action is in response to changing market conditions. We have carefully reviewed the business and believe that by taking this difficult action now, we can be well positioned for the long term.”
With 600 workers at present, Trapeze ITS expects to complete the workforce reductions by June 2010.
About Constellation:
Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation Software Inc. is an international provider of market leading software and services to a number of industries across both the public and private sectors. Constellation acquires, manages, and builds vertical market software businesses that provide software solutions to fulfill the specific needs of its customers in these industries.
About Trapeze ITS:
Trapeze ITS headquartered in Neuhausen, Switzerland, is a leading global provider of solutions for public urban passenger transportation. As an operating company within the Trapeze Group, Trapeze ITS offers public transit companies operating and information systems that facilitate schedule adherence, reduced travel times, co-ordinated connections, and real-time passenger information. Trapeze ITS develops, produces, and integrates high-quality operations control systems, on-board computers, passenger information displays for deployment at stops and in vehicles, and customized services in close cooperation with its customers. Further information is available at www.trapezeits.com.
About Trapeze Group:
Trapeze Group delivers solutions that consider the full 360 degrees of passenger transport. Whether addressing the needs of a single department, an entire organization, or the community, Trapeze provides some of the most advanced software, intelligent transportation systems (ITS) and mobile technologies in the industry. Hundreds of governmental and commercial organizations across North America, Europe and Asia Pacific have turned to Trapeze to realize efficiencies, enhance the quality and scope of their services, and safely transport more people with less cost. Trapeze is an operating group within Constellation Software Inc. (TSX:CSU). Visit www.trapezegroup.com.
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.