Constellation Announces an Arbitration Ruling in Relation to a
Previously Disclosed Customer Dispute
TORONTO, ONTARIO -- (Marketwire) -- 12/30/12 -- Constellation
Software Inc. ("Constellation") (TSX:CSU) today announced that one of
its wholly-owned subsidiaries obtained an arbitration ruling in
relation to a previously disclosed customer dispute.
The arbitration ruling concluded that no amounts were owing from the
subsidiary to the customer for the various claims made by the
customer and that the customer owes the subsidiary approximately $10
million in fees for services provided and for amounts owing due to a
breach of contract by the customer.
Constellation will follow the required procedures to confirm the
award into a judgment and enforce it, and is currently assessing the
impact of this ruling on its financial results.
Further details of the customer claim and dispute can be found in
Constellation's September 30, 2012 unaudited financial statements and
Management Discussion and Analysis under "Acquisition of certain
software assets and liabilities from MAXIMUS Inc.".
Constellation Software Inc.
Chief Financial Officer
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