Topicus.com Inc. Reaches Agreement to acquire Cipal Schaubroeck in Belgium

TORONTO, Jan. 14, 2025 (GLOBE NEWSWIRE) — Constellation Software Inc. (TSX: CSU) and Topicus.com Inc. (TSXV: TOI) today announced that Topicus’ subsidiary Total Specific Solutions (TSS) B.V. (“TSS”) has entered into a binding agreement with CIPAL NV and Mr. Schaubroeck in respect of the sale and transfer of all issued and outstanding shares in the capital of Cipal Schaubroeck NV to TSS.

Cipal Schaubroeck NV (“CP”) is a Belgium-based vertical market software provider active in the local government vertical with annual gross revenues of approximately €110M in 2024. CP employs over 590 employees (561 full time equivalents). The transaction is currently expected to close in Q1 2025, subject to the satisfaction of certain standard closing conditions including clearance from the Belgian Interfederal Screening Commission.

About Topicus.com

Topicus.com Inc. is a leading pan-European provider of vertical market software and vertical market platforms to clients in public and private sector markets. Operating and investing in countries and markets across Europe with long-term growth potential, Topicus.com Inc. acquires, builds and manages leading software companies providing specialized, mission-critical and high-impact software solutions that address the particular needs of customers.

For further information, contact:

Topicus.com Inc.
Jamal Baksh, Chief Financial Officer
Email: jbaksh@csisoftware.com

About Constellation Software Inc.

Constellation acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.

For further information, contact:

Constellation Software Inc.
Jamal Baksh, Chief Financial Officer
Email: jbaksh@csisoftware.com