TORONTO, ONTARIO--(Marketwired - Dec. 20, 2016) - Constellation Software Inc.
("Constellation") (TSX:CSU) announced today that the previously announced subscription
agreement entered into by Constellation with Redknee Solutions Inc. ("Redknee") (TSX:RKN) on
December 9, 2016 providing for a proposed investment by a subsidiary of Constellation of US$80 million in Redknee (the
"Agreement") has been terminated pursuant to its terms.
The Agreement provided that, in the event that Redknee received a competing proposal that was considered to be superior by
Redknee to the transaction contemplated by the Agreement, Constellation had the right (the "Matching Right") to
offer to amend the Agreement such that the competing proposal was no longer a superior proposal. Redknee provided notice to
Constellation and thereafter announced that it had received an offer from an alternative investor which Redknee's Board of
Directors had determined constituted a superior proposal within the meaning of the Agreement.
Constellation has provided notice to Redknee that it will not exercise the Matching Right. Accordingly, Redknee has terminated
the Agreement in accordance with its terms and Constellation will receive a termination fee of US$3.2 million.
About Constellation
Constellation Software Inc. (TSX:CSU) is an international provider of market leading software and services to a select number
of industries, both in the public and private sectors. Constellation's mission is to acquire, manage and build market-leading
software businesses that develop specialized, mission-critical software solutions to address the specific needs of particular
industries.
Forward Looking Statements:
Certain statements herein may be "forward looking" statements. These forward looking statements reflect current assumptions
and expectations regarding future events and are made as of the date hereof and Constellation assumes no obligation, except as
required by law, to update any forward looking statements to reflect new events or circumstances.