Constellation Software’s Vela Software acquires the ProArc Technical Document Management unit from Tieto Oyj
TORONTO, Jan. 31, 2018 — Constellation Software Inc. (“Constellation”) (TSX:CSU) today announced its wholly owned division Vela Operating Group (“Vela”), acquired the ProArc unit of Tieto Oyj, a leading software provider of technical document management software to the engineering & construction industry.
John Billowits, CEO of Vela: “ProArc is the leading provider of technical document management software serving Engineering & Construction companies in the Oil & Gas, Transportation, and Energy markets. ProArc represents our first acquisition in Norway, and our second in the Nordic region, an area in which we are committed to growing.
“By joining Vela, ProArc will gain access to Vela’s and Constellation’s operating expertise across 200+ software businesses, our financial strength, and our global infrastructure. As a permanent-hold investor, we look forward to supporting and bolstering ProArc’s market leadership in the Nordics—as well as globally—for the long run.”
About Constellation Software Inc.
Constellation Software acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.
About Vela Software
The Vela Operating Group is a global provider of software solutions to a number of vertical industries. As an Operating Group of Constellation, Vela acquires, manages, and builds software businesses that provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries to better serve their customers. Vela helps companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.
For further information, contact:
Constellation Software Inc.
Jamal Baksh, Chief Financial Officer
Tel: (416) 861-9677