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Constellation Software Inc. Completes Acquisition of Public Transit Solutions Segment from Continental AG
TORONTO, ONTARIO, Nov 2, 2009 (Marketwire via COMTEX) --
Constellation Software Inc. ("Constellation") (TSX:CSU) announced today that its wholly owned subsidiary Trapeze Software Inc. ("Trapeze") has completed the acquisition of the Public Transit Solutions business of Continental Automotive AG ("Continental"). As part of the transaction, the PT business becomes a separate operating group of Trapeze called Trapeze ITS, led by Managing Director, Hans-Peter Schar. Further details of the transaction were disclosed in a press release on September 1, 2009 at which time Trapeze entered into an asset purchase agreement with Continental.
About Constellation
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. Constellation 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.
About Trapeze Software
Trapeze provides some of the most advanced software, intelligent transportation systems (ITS) and mobile technologies in the passenger transportation industry. Hundreds of government 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. For further information on Trapeze Software Inc., please visit http://www.trapezegroup.com, or call 905-629-5297.
About Continental - Public Transit Solutions
Continental - Public Transit Solutions is a leading global provider of solutions for public urban passenger transport. The company offers public transport authorities extensive operating and information systems which enhance punctuality, reduce travel times, increase the precision of connections, and provide dynamic passenger information. Internationally present, the company develops, produces, and integrates high-quality operation control systems, on-board computers, passenger information displays, and customized services in close cooperation with its customers. Continental Automotive Switzerland AG is a member of the Continental Group, a leading global vendor to the automotive industry. More information on the company can be found at http://www.public-transit-solutions.com.
SOURCE: Constellation Software Inc.
Constellation Software Inc.
John Billowits, Chief Financial Officer
(416) 861-2279
info@csisoftware.com
www.csisoftware.com
Trapeze
Kim Emmerson, Director of Marketing
(905) 629-5297
kim.emmerson@trapezegroup.com
www.trapezegroup.com
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