Constellation Software

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Constellation software Inc.
IndustryIT services
Founded1995; 27 years ago (1995)
FoundersMark Leonard
Area served
Key people
  • Mark Leonard (President and Chairman)
  • Jamal Baksh (Chief Financial Officer)
  • Mark Miller (Chief Operating Officer)
ServicesCustom Computer Programming Services
RevenueIncrease US$ 3.1 billion (2019)[1]
Increase US$ 0.4 billion (2019)[1]
Total assetsIncrease US$ 2.9 billion (2019)[1]
Total equityIncrease US$ 0.9 billion (2019)[1]
Number of employees

Constellation Software is a Canadian diversified software company. It is based in Toronto, Canada, is listed on the Toronto Stock Exchange, and is a constituent of the S&P/TSX 60.

The company was founded by Mark Leonard, a former venture capitalist, in 1996.[2] It went public in 2006,[3] and now has 13,000 employees[4] spread over 6 operating segments.


The company's business strategy is to acquire software companies, and then hold them for the long term.[3] It has acquired over 500 businesses since being founded.[3] It focuses on vertical market software companies (i.e. those that create software for a particular industry or market, as opposed to creating software usable for a wide variety of markets).[5] Most of its acquisitions are relatively small (for less than $5 million),[5] although the company has indicated that it may pursue larger acquisitions in the future.[3] For instance, Constellation acquired Acceo Solutions for $250 million in January 2018, the second-largest acquisition in its history.[6] Although the company has experienced great success with this strategy in the past (its stock has increased 30 times since its IPO in 2006), it has experienced more competition in acquiring companies in recent years,[3] especially from private equity and hedge funds. As of 2016, 67% of revenue was from customers in the public sector, while the other 33% was from customers in the private sector.[7] 12% of revenue was from Canada, 52% from the US, 30% from Europe, and 5% from the rest of the world.[7]

Operating Segments[edit]

Constellation Software has six operating segments:[8]

  • Volaris Group: focuses on acquiring software businesses serving various areas, including agri-business, financial services, and education. It has approximately 45 constituent software businesses.[9]
  • Harris Computer Systems: primarily serves the public sector, including utilities, education, and healthcare.[10] It has 31 constituent businesses.
  • Jonas Software: operates 70 companies, primarily in the hospitality and construction sectors.[11]
  • Vela Software: operates 8 divisions, primarily focuses on the industrial sector, including oil and gas and manufacturing
  • Perseus Operating Group: operates 56 companies in a variety of industries, including home building, pulp and paper, dealership, finance, healthcare, digital marketing, and real estate.
  • Total Specific Solutions: focuses on software companies in the UK and Europe. Total was acquired in December 2013 for $360 million.[5] In January 2021, this operating segment was spun-off to


The founder and chairman of Constellation Software, Mark Leonard, has long maintained a low profile, declining media interviews and making few public appearances.[5]

In 2016, the founder of Innoprise Software sued Harris Computer Systems for giving away its software for free, thus reducing the value of a revenue-sharing agreement.[12][3]

In mid-2018, the company cancelled its quarterly earnings calls, a highly unusual step for a public company.[6] Analysts suggest the company took this step because it was worried about leaking information about potential acquisitions to its competitors.

Management Team[edit]

  • Mark Leonard - President & Chairman of the Board
  • Jamal Baksh - Chief Financial Officer
  • Mark Miller - Director, CEO & COO
  • Bernard Anzarouth - Chief Investment Officer



  1. ^ a b c d "CS" (PDF). CS. Retrieved 18 December 2019.
  2. ^ "» Management Team Constellation Software, Inc". Retrieved 2017-11-29.
  3. ^ a b c d e f De Vynck, Gerrit. "Has Constellation Software's run of rapid growth come to an end?". The Globe and Mail. Retrieved 2017-11-30.
  4. ^ "» Overview Constellation Software, Inc". Retrieved 2017-11-29.
  5. ^ a b c d Chidley, Joe (April 24, 2014). "Constellation Software's elusive CEO". The Globe and Mail.
  6. ^ a b "Constellation Software keeps investors guessing by eschewing conference call". BNN. 2018-07-25. Retrieved 2018-08-14.
  7. ^ a b "Constellation Software Inc. Q4 and Year End 2016 Results". Constellation Software.
  8. ^ "» Our Companies Constellation Software, Inc". Retrieved 2017-11-30.
  9. ^ "Agri-Food". Retrieved 2017-11-30.
  10. ^ "Our Businesses". Archived from the original on 2017-11-29. Retrieved 2017-11-30.
  11. ^ "Jonas Software - Our Companies". Retrieved 2017-11-30.
  12. ^ "Innoprise Software's Lawsuit Against Harris Computer Systems (CSU) to Proceed to Jury Trial on June 13, 2016". MarketWired. April 26, 2016.
  13. ^ "The Team". Official Website. Retrieved 1 June 2020.