Constellation Software Inc.

Constellation Software Inc.

December 05, 2007 08:19 ET

Constellation Software Inc. Acquires the Business Assets of MuniSmart Systems

TORONTO, ONTARIO--(Marketwire - Dec. 5, 2007) - 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 the business assets of MuniSmart Systems, LLC ("MuniSmart").

As a result of the purchase, the MuniSmart customers and staff will become part of Harris' Spectrum business unit. The MuniSmart staff will continue to operate from their existing facilities in Dover, New Hampshire.

"The acquisition of MuniSmart is a good example of Harris' success in acquiring small, regionally focused companies in the local government sector. This is the third such acquisition completed during 2007" said Jeff Bender, CEO of Harris. "We welcome the MuniSmart customers, employees and products into the Harris family."

"Over the last seven years we have worked very hard to build MuniSmart by offering a superior municipal product suite and providing personalized service to our many customers. While Joanne Coutu and I were not focused on selling the company, after reviewing our long range plans we determined that proceeding with such a transaction would be in the best interest of the MuniSmart customers and employees" said Jim S. Smith, President of MuniSmart. "Given Harris' track record of successfully integrating companies with a profile similar to MuniSmart, we are confident that Harris will build upon our successes and bring new energy to the business." "MuniSmart's focus on New Hampshire is a natural complement to our existing municipal customer base in the New England region. In conjunction with Harris' substantial presence in Maine, we believe this acquisition creates exciting opportunities for our customers and staff" stated Jerry Canada, Jr., Harris' Spectrum business unit Vice President. "In addition, we are very pleased to have acquired a proven, well regarded, product suite and an employee team that truly understands the local government market."

About Harris:

Harris is a leading provider of utility customer information systems (CIS), billing, and financial management software solutions. Since 1976, Harris has focused on providing feature-rich and robust turnkey solutions to public power and water markets as well as all levels of local government 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 over time. For further information on Harris Computer Systems, please visit our website at

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. 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.

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