Constellation Software Inc. ("Constellation") (TSX: CSU) announced today that it has completed, through its wholly-owned subsidiary Friedman Corporation ("Friedman"), the acquisition of the business of COREsense Inc. ("COREsense").
COREsense offers fully-featured, configurable applications for multi-channel retailers and direct to consumer manufacturers, through a hosted solution. COREsense's ERP solution (ERP) supports a broad range of specialty retailers including; fashion and apparel, aftermarket automotive parts and sporting goods. COREsense is headquartered in Saratoga Springs, New York and has customers throughout North America.
As a result of the purchase, the COREsense business will become part of Constellation's Friedman Operating Group, and will operate as an independent division of Friedman. COREsense will continue to develop, enhance, and sell their ERP software solutions and provide high levels of customer support.
Eric Herrmann, Chief Financial Officer of the Friedman Operating Group, commented "the acquisition of COREsense compliments the Friedman Operating Group's markets and product portfolio. The COREsense product offering will enable us to further grow our presence in the distribution, fulfillment and retail management market sectors across specialized industries."
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.
Friedman Corporation is headquartered in Deerfield, IL and is a wholly-owned subsidiary of Constellation Software. Friedman Corporation specializes in complete ERP solutions for manufacturers and distributors of "make to order" and "engineer to order" products in the building products, capital equipment, and automotive sectors. The Friedman Operating group also has a complementary portfolio of software offerings for transportation management, material optimization, supply chain management, multi-channel merchant and direct-to-consumer distribution. For further information about Friedman Corporation, please visit their website at www.friedmancorp.com.
Contacts: Constellation Software Inc. John Billowits Chief Financial Officer (416) 861-2279