VMS Vortex Metals Inc

Constellation Software Inc. ("Constellation") (TSX:CSU) announced today that it
has, through its wholly-owned subsidiary Constellation Software Netherlands B.V.
("CSN B.V."), entered into a binding agreement with the shareholders of Total
Specific Solutions (TSS) B.V. ("TSS"), to purchase 100% of the shares of
Netherlands based TSS, for a total purchase price of approximately EUR240
million before adjusting for claims under the representations and warranties of
the Agreement. TSS is larger than Constellation's previous acquisitions. Annual
gross revenues of TSS are approximately EUR174 million and total tangible assets
at December 31, 2012 were approximately EUR71 million. TSS employs approximately
1,400 employees. The purchase price is approximately 2.65 times TSS's 2013
forecast Net Maintenance Revenues. 


The TSS acquisition is expected to close on December 31, 2013, subject to the
satisfaction of certain standard closing conditions. 


TSS is the largest vertical market software ("VMS") business based in the
Netherlands, with offerings for the general practitioner, pharmacy, long term
care, mental care, property tax, and civil affairs markets. It also owns several
non-VMS businesses, primarily involved in information technology services. TSS
will form a new Operating Group within Constellation. 


Canadian securities laws require that Constellation file a Business Acquisition
Report ("BAR") within 75 days of completing a significant acquisition. The TSS
BAR will outline in further detail the historical results of the company and its
constituent businesses and will be available at www.sedar.com. Constellation
will provide details of the TSS financial results separately within the CSI
quarterly financial statements for several quarters post-acquisition.


In conjunction with the acquisition, Constellation has amended its existing
credit facility to add a new one year term loan in the amount of US$350 million
which may only be used for the purposes of funding the TSS acquisition and
related expenses. Before this loan matures, Constellation expects to refinance
the TSS acquisition on a stand-alone basis. As explained in Constellation's last
President's Letter to Shareholders, a number of private equity firms have
successfully built portfolios of large VMS businesses using leveraged capital
structures. They have effectively dominated the market for large VMS
acquisitions. Constellation is planning to adopt some of their financing
techniques so that it can more effectively compete for large VMS acquisitions
such as TSS. 


Constellation may sell a minority stake in the TSS business to the management of
the business and some related investors.


According to Robin van Poelje, CEO of TSS, "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 the rapidly developing demand in our markets and
achieve our objectives."


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. TSS software makes a fundamental difference to
healthcare organizations, governments and financial institutions by helping them
realize their ambitions. The TSS companies are Everest, Blueriq, KZA,
PharmaPartners, PinkRoccade Local Government, PinkRoccade Healthcare and Yonder.



About Constellation Software Inc. 

Constellation Software acquires, manages and builds vertical market software
businesses that provide mission-critical software solutions. 


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. 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
reflect current assumptions and expectations regarding future events and
operating performance and are made as of the date hereof and Constellation
assumes no obligation, except as required by law, to update any forward looking
statements to reflect new events or circumstances.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Total Specific Solutions
Abdeluheb Choho
Chief Marketing Officer
00 31 88 6603333
a.choho@totalspecificsolutions.nl
www.totalspecificsolutions.nl


Constellation Software Inc.
Jamal Baksh
Chief Financial Officer
(416) 861-2279
jbaksh@csisoftware.com
www.csisoftware.com

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