Friedman Announces Acquisition of Coresoft

 

29 November 2013 – Sydney, Australia – Friedman Corporation (“Friedman”) a wholly-owned subsidiary of Constellation Software (TSX:CSU, “Constellation”), announced that its subsidiary Markinson Technologies Pty Ltd (“Markinson”) has completed the acquisition of Coresoft.

Coresoft is a market-leading provider of specialised software solutions for not-for-profit (NFP) organisations, including membership organisations, professional associations, industry associations, trade bodies, and professional organisations. Based in Sydney (Australia), Coresoft markets, sells and supports its products in Australia, New Zealand, and the Asia-Pacific geographies.

As a result of the acquisition, the Coresoft business will become part of Constellation’s Friedman Operating Group. Coresoft will operate as an independent division of Friedman, and will continue to develop, enhance, and market their software solutions, and provide high levels of customer support.

Ian Whiting, Chief Executive Officer of Markinson, commented “The acquisition of Coresoft further extends the reach of Markinson in these geographies. Markinson has years of experience in helping for-profit enterprises maintain and increase their profitability. This acquisition brings us into a perfectly complementary market: assisting not-for-profit enterprises to maximise their operations and relationships with partners and stakeholders.”

Martin Hannah, Chief Executive Officer of Coresoft, adds “This is an exciting development for both the Coresoft business and our customers. Being part of Markinson and the Friedman Operating Group will provide a strong corporate platform and access to resources and expertise which will improve the product portfolio and extend market reach, while at the same time continuing to provide first-class service to our customers.”

About Markinson Technologies Pty Ltd

Markinson, a wholly-owned subsidiary of Friedman Corporation, is based in Australia and has offices in Brisbane, Sydney, and Melbourne. Markinson offers full-featured, configurable applications for multi-facility wholesalers and retailers through two product lines: MomentumPro and ShopKeeper. Markinson’s ERP solutions support a broad range of industries including automotive, electronics and capital equipment, with a customer base throughout Australia, New Zealand and the Asia-Pacific region.

About Friedman Corporation

Friedman Corporation is headquartered in Deerfield, IL and is a division of the Vela Operating Group of Constellation Software. Friedman Corporation specialises 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 optimisation, supply-chain management, multi-channel merchant and direct-to-consumer distribution.