Constellation Software Inc. (TSX:CSU) is a Toronto-based technology investor and operator focused on acquiring and scaling vertical market software businesses that deliver mission-critical applications across public and private sectors. The company’s disciplined, decentralized model has produced decades of acquisitive growth, positioning its operating groups—most notably Volaris Group, Harris Computer Systems and Jonas Software—as market leaders across multiple niches. Active globally, Constellation’s portf ...

Core Insights - Topicus.com Inc. is a Netherlands-based company focused on acquiring vertical market software (VMS) companies in the European market, currently operating in 40 different verticals [1] Investment Strategy - The company seeks businesses with strong cash-generating capabilities and competitive advantages, aiming for at least 15 percent annualized returns or deeply discounted prices relative to their asset base [1] - The investment approach includes considering takeover targets, provided they maintain strong business fundamentals [1] Performance Metrics - The company has achieved an annualized time-weighted return of approximately 16 percent over the past three years [1]