HARRIS ANNOUNCES FINALIZATION OF THE PURCHASE OF MUNICIPAL SOFTWARE CORPORATION
OTTAWA, ONTARIO—July 18, 2008 —Harris Computer Systems (“Harris”), a leading provider of financial, customer and student information management software solutions for utilities, local governments and schools, today announced that it has completed the purchase of substantially all of the assets of Municipal Solutions Group (“MSG”) (TSX VE:MSZ), including the shares of its wholly-owned operating subsidiary, Municipal Software Corporation (“MSC”) (but excluding those assets which constitute MSG’s “Local Government Manager” product). Further details of the transaction were disclosed in a news release of June 3, 2008 at the time Harris entered into an acquisition agreement to acquire MSG.
As a result of the purchase, MSC’s employees, customers and solutions will become part of Harris’ MSGovern local government business unit. Dennis Asbury, now the Executive Vice President for MSC’s operations will continue to execute on the vision, strategy and operational objectives of the company. The company will also remain in its existing facilities in Victoria, BC.
“The acquisition of MSC including its CityView solution represents a continuation of our strategy to expand in the local government sector both through acquisition as well as organically. We have been very impressed by the people, solutions and new customer wins within MSC and look forward to their continued success.” said Craig Ross, General Manager of Harris’ MSGovern business unit. “We welcome the MSC customers, employees and solutions into the Harris family.”
“We are excited to be part of the Harris family and focus on the future. Harris has proven their ability to provide opportunities for employees and customers alike. Within the Harris family we will be able to leverage their extensive local government customer base and knowledge as well as devote the resources required to increase customer service levels and our current success in the new name sales market. What a great time to be an MSC employee and customer.” said Dennis Asbury, Executive Vice President responsible for MSC.
“We look forward to the continued expansion of our solution portfolio for local governments with the MSC CityView solution. We also look forward to realizing the great success that our new employee group will achieve as they represent some of the most knowledgeable, experienced and visionary people in the industry. We are looking to benefit from their knowledge, skills and ideas to add to our growing company.” stated Jeff Bender Harris’ CEO.
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.
About Harris:
Harris is a wholly owned subsidiary of Constellation and is a leading provider of financial management and Customer Information Systems (CIS) software solutions. Since 1976, Harris has focused on providing feature-rich and robust turnkey solutions to all levels of local government, public power and water entities as well as school districts 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 http://www.harriscomputer.com, or call 888-847-7747.
For further information: Harris Computer Systems, Craig Ross, General Manager - MSGovern, (613) 226-5511 x2152, cross@harriscomputer.com
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.
For further information: Constellation Software Inc., John Billowits, Chief Financial Officer, (416) 861-2279, info@csisoftware.com
