Constellation Software Inc (TSX: CSU) has acquired Datamine, the mining software business of training solutions provider CAE Inc (NYSE, TSX: CAE). The financial terms of the deal were not published. Constellation, a Toronto-based software company, said Datamine, its first investment in the mining industry, will operate within its Vela Software Group. Publicly listed in 2006, Constellation remains a portfolio investment of OMERS Private Equity.
CAE sells its mining division Datamine to Constellation Software
Montreal, Canada, July 27, 2015 – (NYSE: CAE; TSX: CAE) CAE and Constellation Software Inc. (TSX: CSU), an international provider of market-leading software and services, announced today that Constellation Software has acquired CAE’s mining division, known as Datamine. Datamine will operate within Constellation Software’s Vela Software Division.
CAE has been reporting CAE Mining income and expenses as discontinued operations in its consolidated financial statements for the past year.
“As reported last year, we decided to sell our mining business in order to concentrate our capital investment and management resources on our three core markets: civil aviation, defence and security, and healthcare. We are pleased that Constellation Software, a leading Canadian company specializing in vertical-market software businesses, will be leading Datamine through the next phase of its development. I would like to thank Datamine employees for their contribution to CAE,” said Marc Parent, President and CEO of CAE.
“We are excited to acquire CAE’s mining software business, which represents our first investment in the mining sector,” said John Billowits, Chief Executive Officer of Vela Software. “We welcome the Datamine customers and employees to the Constellation family.”
Datamine provides a compelling one-stop-shop for the technology and services required to seamlessly plan and manage modern mining operations. Datamine offers solutions ranging from exploration data management and ore-body modelling, to mine planning and associated consulting services to over 1,400 companies worldwide. Through its software and services, Datamine is developing the industry’s most compelling technology and services to advance the efficiency and safety of mine operations.
TD Securities acted as financial advisor to CAE.
About Constellation Software Inc.
Constellation’s common shares are listed on the Toronto Stock Exchange under the symbol “CSU”. Constellation acquires, manages and builds vertical market software businesses.
The Vela Software division is a global provider of software solutions to a number of vertical industries. As an Operating Group of Constellation Software Inc., Vela acquires, manages, and builds specific software businesses which provide specialized, mission-critical software solutions. Vela companies invest in becoming leaders in their industries to better serve their customers. We help companies improve their operations, grow through organic initiatives, and seek acquisitions that can strengthen their market position.
CAE is a global leader in delivery of training for the civil aviation, defence and security, and healthcare markets. We design and integrate the industry’s most comprehensive training solutions, anchored by the knowledge and expertise of our 8,000 employees, our world-leading simulation technologies and a track record of service and technology innovation spanning seven decades. Our global presence is the broadest in the industry, with 160 sites and training locations in 35 countries, including our joint venture operations, and the world’s largest installed base of flight simulators. Each year, we train more than 120,000 civil and defence crewmembers, as well as thousands of healthcare professionals. www.cae.com
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Constellation Software Inc. contact: John Billowits, Chief Executive Officer, Vela Software, +1-416-861-0630, firstname.lastname@example.org
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