Constellation Software Inc. Acquires 2K Technology Group Ltd.
April 04, 2008 - TORONTO, ON
Constellation Software Inc. (“Constellation”) (TSX:CSU) announced today that it has completed the acquisition of UK based 2K Technology Group Ltd. (“2K”). 2K operates under two brands; CAL Software (“CAL”) and Kinross Software Ltd. (“KSL”). Together they have been providing innovative software solutions to the UK agricultural supply industry for over 30 years. CAL and KSL will continue to serve their customers under their current company names and product brands.
Ken Hailwood, Managing Director of 2K Technology Group Ltd., commented, "We look forward to becoming part of the Constellation team. This relationship provides us with access to greater resources and expertise in order to grow our business internationally while continuing to provide innovative and cost-effective solutions to our valued customers.” Mark Miller, Chief Operating Officer of Constellation Software added, “2K provides us an excellent opportunity to enter a new vertical with a leading player. We hope to continue their growth through continued organic initiatives and tuck in acquisitions. We welcome 2K’s customers and employees to the Constellation family.”
About Constellation Software Inc.
Constellation Software Inc.’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation 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
For further information:
John Billowits, Chief Financial Officer, Constellation Software Inc.
Tel: (416) 861-2279