TSS Takes Next Step in Growth Strategy with New Owner

Utrecht, The Netherlands (ots/PRNewswire) -

Total Specific Solutions becomes important part of European ambitions
of Constellation Software

Total Specific Solutions (TSS), the largest vertical market software
(VMS) company in Benelux, takes the next step in its growth strategy
with new owner Constellation Software Inc. . TSS has achieved
successful and strong positions in the verticals of healthcare,
finance and government. Together with Constellation Software, TSS
will further strengthen its Benelux and European position.

(Logo: http://photos.prnewswire.com/prnh/20131216/659280 )

Vertical Market Software

TSS is characterized by its strategic vision that specific markets
need specific software. This vision results in software that helps
clients realise their ambitions faster, more efficiently and
effectively. Because clients value the specific vertical market
software of TSS, the company has developed into a successful company
with strong market positions.

Although vertical market software is specific for each market but
different from country to country, there are plenty of generic
technological and social developments that make a European ambition
possible. Examples are trends like "consumerisation of IT" and "big
data". But also developments like cloud technology and business
process outsourcing. These trends and developments tend to be generic
for all European countries.

As part of Constellation Software, TSS will continue to develop its
vertical market software by country. At the same time, clients and
employees will benefit from the cross-fertilization between the
countries in terms of trends, technological developments and
innovations. Clients therefore get the best of both worlds; software
specifically designed for their market in their country with the
knowledge that this software is based on global knowledge, trends and
developments.

Robin van Poelje, CEO Total Specific Solutions: "TSS wants to
continue to grow and innovate. We anticipate that a new generation of
software will increasingly be developed from a European perspective.
Together with Constellation Software, we expect to continue to meet
this rapidly developing demand in our markets."

"This acquisition provides us complementary software and technology
in the general practitioners, pharmacies, long term care, mental
care, property tax, and civil affairs markets" said Mark Leonard,
President of Constellation Software. "We anticipate that the
successful closure of this acquisition will bring added value to
customers and will benefit employees and shareholders."

Constellation Software

The TSS vision and approach has made TSS the company, the platform it
is today. To further enhance its growth objective, TSS asked for a
change of shareholder. A shareholder with expertise in areas such as
multidisciplinary software development and building an international
network. The management of TSS, the Supervisory Board and shareholder
Strikwerda Investments, through its subsidiary Joday Investments
B.V., have searched for this new shareholder who can support the TSS
growth objective. Constellation Software has specialised in vertical
market software businesses, which fits perfectly with the strategy of
TSS and will benefit the rollout of the TSS growth objective.

TASS

The management of TASS in the Netherlands and Belgium have looked at
how they can best join the European VMS platform ambitions of TSS.
TASS, as embedded software developer, has a service pack and market
approach, which is very different from the other TSS companies.
Because TASS will have little benefit from the VMS platform the
management of TASS, in consultation with TSS, asked shareholder
Strikwerda Investments not to sell the TASS shares to Constellation
Software. This means that TASS per January 1, 2014 is no longer part
of the TSS group, but continues as an independent company.

Transaction

Constellation Software Inc. has, through its wholly-owned subsidiary
Constellation Software Netherlands B.V. ("CSN B.V."), entered into a
binding agreement with Joday Investments B.V., as seller, to purchase
100% of the shares of Total Specific Solutions, for a total purchase
price of approximately EUR240 million before adjusting for claims
under the representations and warranties of the agreement. TSS will
form a new operating group within Constellation Software.

About Total Specific Solutions

Total Specific Solutions (TSS) has 1,400 employees and a turnover of
EUR174 million in 2012 (excluding employees and turnover of TASS).
The TSS companies are specialized technology companies with a focus
on a particular expertise or a specific market sector, "vertical
market software". TSS software makes a fundamental difference to
healthcare organizations, governments and financial institutions by
helping them realizing their ambitions. The TSS companies are
Everest, KZA, PharmaPartners, PinkRoccade Local Government,
PinkRoccade Healthcare and Yonder.

Transaction advisors to TSS were Allen & Overy, ABN AMRO and KPMG.

About Constellation Software Inc.

Constellation Software Inc. ("Constellation") is a global provider of
enterprise software solutions serving a variety of distinct vertical
markets. Its principal strategy is to acquire, manage and build
vertical market software businesses. Generally, these businesses
provide mission critical software solutions that address the specific
needs of customers in particular vertical markets. Constellation has
five operating groups which currently service over 40,000 customers
in approximately 60 different vertical markets worldwide. With its
headquarters in Toronto, Canada, and offices in North America, Europe
and Australia, Constellation has over 6,500 employees generating
consolidated revenues exceeding US$800 million. Constellation is
listed on the Toronto Stock Exchange.

More information about Total Specific Solutions can be found at
http://www.totalspecificsolutions.nl.

More information about Constellation Software Inc. can be found at
http://www.csisoftware.com.

Photo: 
http://photos.prnewswire.com/prnh/20131216/659280

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