Constellation Software unit TSS completes acquisition of Topicus

Constellation Software Inc. subsidiary Total Specific Solutions (TSS) B.V. completed its acquisition of Netherlands-based Topicus.com BV from IJssel BV.

In connection with the deal's closing, Constellation has spun out TSS, which will operate along with Topicus under the operating group name Topicus.com.

Constellation said its common shareholders as of Dec. 28, 2020, received approximately 1.86 subordinate voting shares of Topicus.com for each common share of Constellation they held.

The spin-out shares have been conditionally approved for listing on the TSX Venture Exchange, subject to fulfillment of final listing requirements, according to Constellation. Trading is expected to start by Feb. 1.