OTTAWA, ONTARIO-July 6, 2006-Harris Computer Systems ("Harris"), a leading provider of financial, customer and student information management software solutions for utilities, local governments and schools, today announced that it has completed the purchase of the business assets of DataTeam Systems, Inc. ("DataTeam").
As a result of the purchase, the DataTeam customers and staff will become part of Harris' school business unit. The DataTeam staff will continue to operate from their existing facilities in Lawrence, Kansas.
Harris CEO Jeff Bender stated, "This acquisition represents a continuation of our strategy to expand in providing software solutions for school districts. The DataTeam transaction marks our third in 2006 in a vertical market we believe has strong growth potential. We are pleased to have achieved this level of success so quickly. In addition to the DataTeam customer base, we are very fortunate to obtain a team of experienced employees who will join Harris and assist us with our future growth plans."
"Harris is the perfect company to expand DataTeam's products and services," said Roger B. Haack, President and CEO of DataTeam Systems. "I knew I had to find the perfect partner to maintain and enhance the reputation for quality products and excellent support we had built since 1979. My dream for many years was to align DataTeam with a company with significant resources to enhance product development and expand services; that could pull together multiple companies into a very strong presence; and could position themselves as the dominant software solution provider for school districts nationwide - all of this for the benefit of our clients and public education! I'm pleased to announce the sale of DataTeam to Harris because they have the desire and ability to complete my dream."
"This acquisition represents an exciting expansion of our geographic reach as well as an increase in the breadth of our product offering." stated Bryce Cooper, Harris VP of the Schools Division and the executive responsible for integration efforts. "While we are committed to maintaining support for the DataTeam financial solutions under our Software for Life Policy, this acquisition creates several new opportunities for product synergies. We will be able to immediately offer DataTeam customers "xSphere", Harris' state-of-the-art student information system. We will also be able to offer DataTeam's Fund Accounting, eRequisitions and Lunch Express to targeted segments of our client base, along with automated time and attendance solutions and online applicant tracking. Harris is now well positioned to be a leader in this vertical."
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.
About Harris:
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.
About Constellation:
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.
