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TSS going into France:

 

https://www.totalspecificsolutions.com/about-us/transaction-updates

 

Félix Informatique is a software provider focusing on several vertical markets with industry-specific ERP solutions. Ecolix is the multi-language management software suite for the retail furniture market, which manages the entire commercial activity from a single store to multi-brands and covers point of sale and e-commerce activities. Furthermore, Félix offers management and cash flow solutions for the restaurant and food retail industry, under the brand Orchestra Software.

 

Félix Informatique also has a solution for metrology, from the management of measuring instrument fleets and calibration assistance, quality control and statistical analysis, industrial weighing management, to weighing management and traceability.

 

Next to Cosoluce and Héliantis, this is our second investment in France, creating a solid base to continue growing and expanding our foothold there.

 

For over 30 years, Félix Informatique has been designing business software for commerce and industry serving around 3,000 clients.

 

H/t @pearnick

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TSS second acquisition in Finland:

 

https://www.totalspecificsolutions.com/about-us/transaction-updates?tid=44

 

Arter has two industry-leading solutions for the public, healthcare, and manufacturing verticals: IMS and ARC. The IMS platform enables Arter’s customers to be aligned with quality management standards and building integrated management systems and processes by offering core functionalities such as process mapping, document and risk management, feedback and evaluation processing, and measuring results. IMS visualizes and standardizes an organization’s operations, making them easily accessible. The ARC solution is an easy-to-use tool for planning and visualizing different business areas such as strategy, goals, processes, technology, and enterprise architecture. ARC supports customers in implementing their strategies into operations effectively and complying with different data management-related regulations.

 

h/t @pearnick

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New Volaris acquisition in Switzerland:

 

https://www.volarisgroup.com/news/article/infogate-ag-joins-volaris-group-in-social-welfare-vertical

 

Infogate provides comprehensive software to help handle the various complexities of social work administration and management. The company’s solutions are used throughout Switzerland, Germany, and Austria by various municipalities, cities, social welfare organizations, and non-profit organizations.  

 

 

h/t @pearnick

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New acquisition around $20:

 

http://www.globenewswire.com/news-release/2019/06/26/1874465/0/en/CAKE-Announces-Acquisition-by-Constellation-Software-Inc.html?culture=fr-ca

 

CAKE, the leading global performance marketing software provider, today announced that the company has been acquired by Constellation Software Inc., a $20-billion international provider of market-leading software and services. The acquisition investment furthers CAKE’s innovation in performance marketing software and solutions for affiliate marketing, lead generation and multichannel marketing; and reinforces the company’s commitment to superior customer support, providing performance marketers, advertisers and publishers with new opportunities to increase margin.

 

“We are pleased to have acquired CAKE,” said Dexter Salna, President of Perseus, a Constellation operating group. “Their strong management team and focus on serving performance marketing customers make them a promising addition to Perseus.”

 

h/t @pearnick

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https://csiperseus.com/news/constellation-homebuilder-systems-company-acquires-online-listing-service/

 

"Constellation HomeBuilder Systems, a provider of home building software and services, announced the acquisition of online listing service NewHomeListingService.com."

 

With the common goal of connecting buyers, builders and real estate agents, the NewHomeListingService.com team will be joining Constellation HomeBuilder Systems to further expand the most comprehensive homebuilding and land development platform in the industry.

 

NewHomeListingService.com will be integrated with the NEWSTAR, FAST, and BuildTopia enterprise resource planning platforms of Constellation HomeBuilder Systems. The integration will allow data to sync in real-time so that prospective buyers have access to the accurate and updated information.

 

h/t @adrivalue

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TSS acquisition in France:

 

https://www.totalspecificsolutions.com/about-us/transaction-updates

 

Metamicro has a leading position in the French software market for the financial services industry with multiple solutions, specifically for large banks and insurance companies. The company’s product suite consists of four different products, which can be offered on-premise as well as in the cloud (SAAS). Ligis is a solution for debt recovery, Heremus includes tools for the management of succession files whereby banks are compliant with the inheritance regulations. Saisar is a software solution whereby banks can automate the processing of civil enforcement procedures (PCE). And lastly, Caris is a software product that supports companies to optimize their customer relations.

 

H/t @pearnick

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Volaris acquisition in Italy:

 

https://www.binarysystem.eu/en/press-reviews/binary-system-e-volaris-group

 

Binary System S.r.l. ​is the leading Italian company for the production of software solutions conceived to manage operational activities of railway undertakings. Thanks to a team of 30 collaborators among researchers and developers of latest web and mobile technologies, railway industry experts well-established partnerships with most important devices manufacturers, Binary System has developed a suite of products which represents the excellence on the market for its usability, integration and mobility.

With a customer portfolio that today boasts 45 references between Italy, Germany, France, Belgium and Austria in few years Binary System has become a benchmark in the market for supplying applications to rail undertakings with S​ oftRail®​, the suite of modular software that covers every management and operational need.

 

h/t @pearnick

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Constellation Real Estate Group Acquires offrs.com

 

http://www.constellationreg.com/press-creg-acquires-offrs/

 

Constellation Data Solutions Inc., part of the Constellation Real Estate Group (CREG), announced today that it has acquired offrs.com (offrs), a market-leader in predictive analytics and lead generation in real estate.

offrs leverages Big Data and its proprietary machine learning algorithm to predict future home sales and transactions, otherwise known as “Smart Data”. offrs distributes its Smart Data to real estate agents and other financial verticals including mortgage and title companies.

“With data and artificial intelligence at the forefront of innovation in the real estate industry, offrs’ robust platform, predictive analytics and Smart Data deliver truly advanced data and insights that move the industry forward,” said Scott Smith, President of Constellation Real Estate Group. “offrs has a strong team with powerful technology, and we’re excited to welcome them to the Constellation Real Estate Group portfolio.”

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Volaris acquisition:

 

https://www.enlightenmentmag.com/news/windward-software-owners-retire-sell-business-to-volaris-group

 

https://www.windwardsoftware.com/company/about-us.html

 

We are specialists in inventory control, point of sale, invoicing and accounting software systems for the retail and customer service industries. Using a series of soft switches, Windward Software ERP software adapts to the way you do business. Unlike many of our competitors, we don’t believe that a company should have to change its existing business practices to suit a software package.

 

Windward Software has been in the business since 1984, and our client base includes businesses throughout the world. Our clients are based in Canada, United States, Australia, Barbados, Cayman Islands, Jamaica, Bermuda, Philippines, Malaysia, Brunei and many others.

 

h/t @pearnick

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Volaris acquisition:

 

https://www.enlightenmentmag.com/news/windward-software-owners-retire-sell-business-to-volaris-group

 

https://www.windwardsoftware.com/company/about-us.html

 

We are specialists in inventory control, point of sale, invoicing and accounting software systems for the retail and customer service industries. Using a series of soft switches, Windward Software ERP software adapts to the way you do business. Unlike many of our competitors, we don’t believe that a company should have to change its existing business practices to suit a software package.

 

Windward Software has been in the business since 1984, and our client base includes businesses throughout the world. Our clients are based in Canada, United States, Australia, Barbados, Cayman Islands, Jamaica, Bermuda, Philippines, Malaysia, Brunei and many others.

 

h/t @pearnick

 

I only flipped through a few statutory reports, but didn't see much disclosure regarding P&L performance of acquisitions. Have you attempted to break out organic vs acquired growth?

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Volaris acquisition:

 

https://www.enlightenmentmag.com/news/windward-software-owners-retire-sell-business-to-volaris-group

 

https://www.windwardsoftware.com/company/about-us.html

 

We are specialists in inventory control, point of sale, invoicing and accounting software systems for the retail and customer service industries. Using a series of soft switches, Windward Software ERP software adapts to the way you do business. Unlike many of our competitors, we don’t believe that a company should have to change its existing business practices to suit a software package.

 

Windward Software has been in the business since 1984, and our client base includes businesses throughout the world. Our clients are based in Canada, United States, Australia, Barbados, Cayman Islands, Jamaica, Bermuda, Philippines, Malaysia, Brunei and many others.

 

h/t @pearnick

 

I only flipped through a few statutory reports, but didn't see much disclosure regarding P&L performance of acquisitions. Have you attempted to break out organic vs acquired growth?

 

The company breaks organic out in pretty good detail. I'm on my phone so don't have it in front of me, but it's in the fillings, and also was in the letters.

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Volaris acquisition:

 

https://www.enlightenmentmag.com/news/windward-software-owners-retire-sell-business-to-volaris-group

 

https://www.windwardsoftware.com/company/about-us.html

 

We are specialists in inventory control, point of sale, invoicing and accounting software systems for the retail and customer service industries. Using a series of soft switches, Windward Software ERP software adapts to the way you do business. Unlike many of our competitors, we don’t believe that a company should have to change its existing business practices to suit a software package.

 

Windward Software has been in the business since 1984, and our client base includes businesses throughout the world. Our clients are based in Canada, United States, Australia, Barbados, Cayman Islands, Jamaica, Bermuda, Philippines, Malaysia, Brunei and many others.

 

h/t @pearnick

 

I only flipped through a few statutory reports, but didn't see much disclosure regarding P&L performance of acquisitions. Have you attempted to break out organic vs acquired growth?

 

The company breaks organic out in pretty good detail. I'm on my phone so don't have it in front of me, but it's in the fillings, and also was in the letters.

 

Found it, thanks. Didn't see the 2019 letter on the list, but assume that's floating around somewhere. Certainly refreshing to see frank discussion of performance:

 

The return on our shareholders’ Average Invested Capital (“ROIC”) dropped to 29% in 2017. The

decrease was a function of a slew of new investments with lower ROIC’s and of our increasing cash

balance. I expect this metric to continue to drop.

 

Constellation's Organic Net Revenue growth has averaged only 2% during the last decade. This has been

disappointing for me and the Operating Group managers. Some of our businesses serve shrinking

verticals or those that are otherwise troubled, so we don’t necessarily expect strong organic growth from

them. We do expect each business unit (“BU”) to provide constantly evolving software and systems that

help their clients refine and strengthen their businesses, even in the face of industry headwinds. In 2017

our Organic Net Revenue growth was 4%.

 

Screen_Shot_2019-07-13_at_8_28.26_AM.thumb.png.689b7a722c3d9a075bdbd5665490e385.png

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