Constellation Software, Lumine to Acquire WideOrbit

Acquisitions

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TORONTO—Constellation Software Inc. and its subsidiary Lumine Group Inc. have announced they have entered into a binding agreement to acquire WideOrbit, which is a major supplier of ad management software to broadcast stations, networks and other media outlets in the U.S. Constellation also announced plans to spin off its Lumine Group subsidiary. WideOrbit will accelerate Lumine Group’s expansion into the media space, bringing a wealth of domain knowledge, an experienced leadership team, and a customer ecosystem we look forward to continue serving. “Our partnership with Lumine will build on our 23-year legacy and contribute to a stronger future for the company, our employees, and our valued clients. The spin-off and listing are subject to the approval of the TSX Venture Exchange and acceptance of a final prospectus by the Canadian securities regulatory authorities. Consideration for the purchase will be in the form of a cash payment plus the issuance to eligible WideOrbit shareholders of 13.83% of the shares of Lumine Group (on a fully diluted basis), Constellation said.

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