Toronto, Canada, October 18, 2010 – 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 all of the assets of the Health – Clinical business from GFI Business Solutions Inc., a subsidiary of GFI Solutions Group Inc. Under the terms of the Acquisition Agreement, Harris acquired all of the trademarks and intellectual property related to the business as well as has engaged the majority of the employees who were dedicated to this business.
Daniel Desaulniers, General Manager of Harris Quebec, commented, “This acquisition allows us to significantly expand our health sector business in Québec. It demonstrates our interest in continuing to better serve our health sector customers. The addition of the Magistra Suite and Health – Clinical Suite improves our already successful array of products and services dedicated to this market. We are very pleased to welcome to our team approximately fifty new employees who will be able to provide continuity to customers and who will contribute to the growth of our company”.
Gilles Létourneau, President and Chief Executive Officer of GFI Solutions Group said, “The decision to sell the Health – Clinical business is the result of a strategic review of our portfolio of products and services and our commitment to focus the company’s growth on our core offering. We are in an active stage of our development and we wish to concentrate our energy on increasing our presence in new geographic areas and on the synergistic potential of our activities”.
About Constellation:
Constellation acquires, manages and builds vertical market software businesses that provide mission critical software solutions. Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Further information about Constellation may be obtained from the Company’s web site at www.csisoftware.com.
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 provided 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. For further information on Harris Computer Corporation, please visit our website at https://www.harriscomputer.com, or call 888-847-7747.
About GFI Solutions Group Inc.:
A leader in the Canadian IT industry, GFI Solutions Group specializes in the design, implementation, integration and support of business software solutions, in the development of e- business solutions, and in electronic payment, professional, and technical IT services. In operation for over 20 years, GFI Solutions Group has pursued an active growth strategy, and its most recent acquisitions include Fortsum Business Solutions Inc., Bell Business Solutions Inc., and Accovia Inc. These acquisitions have enabled the company to expand its client base internationally, conquer vertical markets, and extend its product and service offering to SMBs. Over a five-year period, they have enabled the firm to increase its annualized revenues and employee base fivefold. For more information, please visit the Company’s Website at www.gfisolutions.com.
For further information, contact:
Constellation Software Inc.
John Billowits
Chief Financial Officer
(416) 861-2279
info@csisoftware.com
www.csisoftware.com
Harris Québec
Daniel Desaulniers
General Manager Medisolution / PG Solutions
(418) 724 5037 ext 1252
ddesaulniers@pgsolutions.com
www.harriscomputer.com
GFI Solutions Group Inc.
Gilles Létourneau
President and Chief Executive Officer
(514) 288-7161 ext. 407
gilles.letourneau@gfisolutions.com
www.gfisolutions.com