Constellation Software's Volaris Group, Acquires SpecTec Group Holdings LimitedMarketwire - Canada
TORONTO, ONTARIO--(Marketwire - Aug. 21, 2012) - Constellation Software Inc. ("Constellation") (TSX:CSU) today announced that its wholly-owned division Volaris Group ("Volaris") has acquired SpecTec Group Holdings Limited ("SpecTec"), an international provider of marine software and remote asset management solutions for the shipping, off-shore oil and gas, and naval defense industries. The acquisition is Volaris' first acquisition in the Marine vertical.
A truly international organization, SpecTec has offices in 15 countries and hundreds of customers ranging from individual ship owners to large multinational oil corporations. The company's market leading solution, AMOS, is a full featured remote asset and marine-focused enterprise solution suite for maintenance, spare parts and stock control, purchasing and procurement, quality and safety document management, voyage management and personnel management. In addition, SpecTec provides the IDEA software suite for efficient vessel management designed specifically for the yachting industry.
"SpecTec is considered a market leader in marine-focused software and remote asset management solutions making them an ideal acquisition as we move into this vertical market," said Mark Miller, CEO, Volaris Group. "We look forward to supporting the SpecTec team as they continue to grow and strengthen their business in this market."
Including the acquisition of SpecTec, Constellation has deployed approximately $72 million in net cash consideration year to date on 19 acquisitions.
About Volaris Group
Volaris acquires, strengthens and grows vertical market technology companies enabling them to be clear leaders within their focused industry. Volaris companies provide specialized, mission-critical solutions to vertical markets around the world including Agri-Food, Asset Management and Logistics, Justice, People Transportation and Rental Management. Volaris is an operating group of Constellation Software Inc. Learn more at www.volarisgroup.com or call 905.629.5297.
About Constellation Software Inc.
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.FOR FURTHER INFORMATION PLEASE CONTACT: Constellation Software Inc. John Billowits Chief Financial Officer (416) 861-2279 email@example.com www.csisoftware.comSource: Constellation Software Inc.