Constellation Software to buy Total Specific Solutions for $350 mln
Constellation Software Inc (TSX: CSU) has agreed to buy Total Specific Solutions B.V., a Dutch provider of software solutions to healthcare organizations, governments and financial institutions, for EUR 240 million (approximately C$350 million). In conjunction with the deal, which is expected to close before the end of 2013, Constellation has amended its existing credit facility to add a term loan of US$350 million to be used for the purposes of funding the acquisition and related expenses. The Toronto-based Constellation, which is focused on acquiring, managing and building vertical market software businesses, is a portfolio company of OMERS Private Equity, the private equity investment arm of the Ontario Municipal Employees Retirement System.
