"As a result of the purchase, Advanced and its flagship CIS Infinity are now part of the overall Harris portfolio of solutions. Advanced will operate as a wholly owned subsidiary of Harris and will continue to sell, develop, enhance, support and service CIS Infinity.
Harris CEO Jeff Bender stated, "We are very pleased with our ability to complete the purchase of Advanced. The combination of the NorthStar and CIS Infinity solutions provides our customers and prospects with tremendous choice in alternatives and the knowledge and comfort that they can meet their business, customer and employee requirements today and in the years to come. Harris provides the level of corporate and financial stability that the CIS market needs and wants. Our business model positions us to succeed for our customers and ourselves - providing the best of both worlds."
Advanced founder and now Harris VP Steve Hammond commented, "This is the right move for our customers, our employees and the CIS industry. This combination eliminates our investment in non-value areas and allows us to focus on what we do best - developing and providing market leading solutions to our customers. I am excited to be joining the Harris team. What a great time to be a Harris customer or prospect."
"We are committed to the continued investment and development of CIS Infinity," stated Rob DiMurro, Harris VP of Research and Development and the executive responsible for integration efforts. "We know that customers require and demand different solutions to meet their needs - Harris is well positioned to deliver."
Z. Sam Ruttonsha, President of Hanbury Management Ltd, who acted as the business advisor to Advanced, added "The strategic fit between the companies was so compelling that I was pleased to be able to facilitate the sourcing and completion of this transaction."
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.
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 www.harriscomputer.com, or call 888-847-7747.
Constellation acquires, manages and builds vertical market software businesses that provide mission critical software solutions. Constellation's common shares are listed on the Toronto Stock Exchange under the symbol "CSU". Further information about Constellation may be obtained from the Company's web site at www.csisoftware.com.
For further information:
Barry Symons, Chief Financial Officer
Constellation Software Inc.
Rob DiMurro, VP of R&D
Harris Computer Systems
(613) 226-5511 x2146
Peter Fanous, General Manager
Advanced Utility Systems, a division of N. Harris Computer Corporation
(888) 355-7772 x231
Northern Kentucky Water District:
"Our customers needed a seamless upgrade. We had more confidence in the Advanced strategy than any other vendor's -- their implementation and conversion process were designed to flex for a unique situation like ours."
City of Bellevue:
"Throughout the 10-month conversion and implementation project, Advanced brought excellent people to the table, and we've arrived at the end of the project with all our requirements met."