Constellation Software to buy Total Specific Solutions in debt-financed deal - InfoNews

Current Conditions

Cloudy
0.9°C

Constellation Software to buy Total Specific Solutions in debt-financed deal

December 16, 2013 - 8:28 AM

TORONTO, Cananda - Constellation Software Inc. (TSX:CSU) will pay the equivalent of about C$350 million to acquire Total Specific Solutions (TSS) BV, a Dutch software company with about 1,400 employees.

TSS focuses on several markets including health-care and government.

Constellation will initially finance the euro250-million transaction with a US$350-million one-year term loan. Before the loan matures, the company expects to refinance TSS on a stand-alone basis.

It expects the deal to close on Dec. 31, subject to standard conditions. TSS will then form a new operating group within Constellation.

Constellation shares have been on a fairly steady upward trajectory for several years and have nearly doubled in value since their low point of the year.

On Monday, the stock hit a new intraday high of $205.41 — up from a 52-week low of $111.09 set in February at the Toronto Stock Exchange.

News from © The Canadian Press, 2013
The Canadian Press

  • Popular kelowna News
  • Comments
  • RCMP make arrest for 2019 killing of homeless Kelowna teen
    An 18-year-old woman has been arrested for the 2019 killing of Elijah Beauregard. Beauregard was fatally stabbed in downtown Kelowna June 27, 2019, and on Feb. 21,  an unnamed woman was
  • Major delays on Coquihalla, Drive BC issues warning
    Conditions on the Coquihalla, near the Great Bear snowshed, have been pretty intense for motorists, prompting DriveBC to issue a warning. #BCHwy5 - A look at the situation moments ago
  • UPDATE: Highway 1 open after major accident
    After a major vehicle accident closed Highway 1 between Revelstoke and Sicamous this morning, the road has been reopened. According to Drive BC, the incident occurred around 9 a.m. at Three
  • Snowstorm to hit Coquihalla, valley bottom
    Snow is expected to fall across the Southern Interior today but the biggest weather change will be on mountain passes, which could see quite a significant accumulation of snow. A snowfall wa
  • New mountain highway proposed between Red Deer and Kamloops
    An Alberta development group is pitching the idea of a new highway linking central Alberta to B.C. cutting through the mountains and a section of Banff National Park. The Central Alberta Eco
View Site in: Desktop | Mobile